Bitcoin Drops to $30,000

Bitcoin fell close to $30,000 but recovered and is now a few hundred dollars above that level.

Most altcoins are red today, with ADA, SOL, MATIC, and DOT falling the most relative to their market caps.

Following Ripple’s historic victory against the SEC, the primary cryptocurrency experienced increased volatility along with the rest of the market at the end of the week.

As a result of the judge’s ruling that nearly all XRP sales do not constitute security transactions, BTC surged from below $30,500 to a new 13-month high of over $31,800.

However, it could not sustain this momentum and lost several hundred dollars by Friday. Then, a more violent rejection occurred, bringing the price to just below $30,000 for the third time that week.

On Saturday, the bulls contributed to Bitcoin reclaiming the round-number milestone. Bitcoin dropped to $30,050 (on Bitstamp) earlier today despite the weekend being significantly less eventful than usual.

However, it managed to maintain that level and is now approximately $300 above it. Its market capitalization and share remained unchanged from the previous day at $590 billion and 48.5%, respectively.

Following the SEC-Ripple ruling, as anticipated, most alternative cryptocurrencies, particularly XRP, also increased in value.

It nearly doubled in value within hours, reaching a 19-month high of $0.95. However, it also failed there, and over the next few days, it retraced significantly to its current level of just over $0.7.

ETH surpassed $2,000 but now trades at $1,930 after a two-day decline. BNB is back under $250.

ADA is down by more than 4%, SOL is down by 4%, DOGE is down 2%, MATIC is down 3%, and DOT is down 3% over the past 24 hours.

The native token of Lido DAO has fallen the most, by over 6.5%. Consequently, LDO is now trading below $2.3.

CMC reports that the total crypto market capitalization has remained relatively stable at around $1.210 trillion.