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Crypto news: BTC recovers after weekend plunge

By Daniela Ešnerová


Updated

Coin with BTC logo and stocks image overlay
BTC sunk to $38,112 during the weekend trading, but the price is now rising – Photo: Shutterstock

Bitcoin (BTC) and the rest of the cryptocurrency market were on the rise in London trade this morning after a weekend dive in which the oldest cryptocurrency sank to a low of $38,000.

Ether (ETH) and other altcoins were also beginning to recover from the weekend plunge. Layer-1 blockhain protocols Solana (SOL) and Terra (LUNA), and non-fungible token (NFT)-based online videogames Axie Infiinity (AXS) and 3D virtual-world platform Decentraland (MANA) were among the biggest daily gainers.

After failing to defend $40,000 on Friday, the bitcoin bulls managed to hold the next support range at $38,000 during the weekend when the support was tested. 

On Monday morning, the crypto king appeared to be recovering from its weekend losses, and the whole virtual currency market advanced 2.21% over the past 24 hours. 

ETH/USD

3,501.03 Price
-0.230% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

DOGE/USD

0.13 Price
+2.390% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

XRP/USD

0.61 Price
+4.850% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

BTC/USD

66,667.40 Price
-0.560% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

Other crypto and stock news

  • European stocks climbed slightly on the news that US President Joe Biden and Russia Presiden Vladimir Putin have agreed to French president Emmanuel Macron’s proposal of a US–Russia summit.
  • OpenSea, the world’s biggest marketplace for NFTs, was subjected to a phising attack on Sunday. As OpenSea CEO Devin Finzer wrote on Twitter: “As far as we can tell, this is a phishing attack. We don’t believe it’s connected to the OpenSea website.”

    Finzer added that apparently, affected users “have signed a malicious payload from an attacker, and some of their NFTs were stolen”.

Quote of the day

El Salvadorean president and known cryptocurrency advocate Nayib Bukele tweeted: “I’m sending 52 legal reforms to congress to remove red tape, reduce bureaucracy, create tax incentives, [and secure] citizenship in exchange for investments, new securities laws, stability contracts, etc.

“The plan is simple: as the world falls into tyranny, we’ll create a haven for freedom.”

Under Bukele’s leadership, El Salvador became the first country to adopt bitcoin (BTC) as legal tender last September.

Top cryptocurrency coins by market capitalisation

As of 10:00 GMT, the following cryptocurrencies has inched forward, as below. 

Winners and losers

Markets in this article

AXS/USD
AXS/USD
6.48 USD
0.01 +0.160%
BNB/USD
Binance Coin / USD
598.02 USD
-2.62 -0.440%
BNB/USD
Binance Coin / USD
598.02 USD
-2.62 -0.440%
BTC/USD
Bitcoin / USD
66667.40 USD
-378.15 -0.560%
CRO/USD
Crypto.com Coin / USD
0.09633 USD
-0.00025 -0.260%

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