Bitcoin Drops Back To $42K, Ethereum Classic Rises Another 10% (Market Watch)

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After briefly surpassing $43,000 to mark a 20-day high, bitcoin pulled back slightly, falling to its all-time high in January 2021 of around $42,000. Most altcoins have stalled today, but Ethereum Classic continues to make another huge surge.

Bitcoin returns to $42K

The past few days have been pretty good for the primary cryptocurrency with no excessive moves in either direction.

One of the most substantial price gains came on March 18 when BTC jumped from $40,000 to a daily high of $42,000. It fell back a few hundred dollars over the next few days before going on the attack again yesterday.

This time, bitcoin peaked at $2,000, shooting above $43,000 for the first time since March 3. It stayed around that level for most of the trading day, but the bears came to play and pushed it south.

As a result, BTC dropped to $42,000 and is now back around that level. As such, the market cap has fallen slightly to $800 billion.

BTCUSD. Source: TradingView

Alts booth: ETC on a roll

The altcoins have seen impressive gains in recent days, but most have charted small declines since yesterday.

Ethereum hit $3,000 for the first time in weeks but failed to stay above that coveted level. As of now, a 2% drop has pushed the second-largest cryptocurrency to $2,950.

Binance Coin, Ripple, Avalanche, Dogecoin and Shiba Inu are also slightly in the red. In contrast, Cardano, Solana and Polkadot have seen small increases.

However, Ethereum Classic continues to steal the show. ETC is up more than 11% in the last 24 hours and 85% in a week. As a result, the asset is now close to $50.

The crypto market cap has fallen slightly since yesterday but is still above $1.9 trillion.

Cryptocurrency market overview. Source: Quantify Cryptography

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Cryptocurrency Charts by TradingView.

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