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Crypto market cap recovers $76B, altcoins rally after Bitcoin hits $34K

June 23, 2021. Summarized by summa-bot.

Compression ratio: 40.1%. 1 min read.

Bitcoin’s quick recovery to $34,800 ignited a rally in altcoins, boosting the total crypto market capitalization by $76 billion.

According to data from CoinMarketCap, the total cryptocurrency market capitalization fell by nearly $230 billion between June 20 and June 22 but it has managed to regain roughly $76 billion in value on June 23 and now sits at $1. 365 trillion as some traders viewed the correction as a dip-buying opportunity.

Bitcoin's bounce off its swing lows was welcomed by altcoins and data from Cointelegraph Markets Pro shows the majority of tokens in the green today.

According to data from Cointelegraph Markets Pro and TradingView, the biggest gainer so far has been Cybervein (CVT), which at one point saw its price surge as much as 112% on the 24-hour chart but has since pulled back to $0. 0187, representing a gain of 62% since June 22.

According to data from Cointelegraph Markets Pro, market conditions for ANKR were favorable for some time prior to the market-wide pullback on June 22.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

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by summa-bot

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