AVAX Explodes by 12% Daily as BTC Price Recovers From Sub-$112K Drop: Market Watch

Bitcoin’s adverse price move on Monday drove the asset even further south during the early Tuesday morning hours when it slipped to $111,600 for the first time in two ￰0￱ most of the larger-cap alts have remained relatively sluggish on a daily scale after yesterday’s crash, AVAX has gone on a tear with a double-digit ￰1￱ Recovers The primary cryptocurrency enjoyed most of the previous business week, especially Thursday, after the US Federal Reserve finally reduced the key interest rates by 25 ￰2￱ the time of the announcement, BTC had calmed at around $116,000 but shot up to $118,000 on Thursday morning to mark a monthly ￰3￱ price ascent didn’t last long, though, as bitcoin started to lose traction almost immediately and fell to $115,200 on ￰4￱ found support there during the weekend and spent it trading sideways between that level and $116,000.

Monday began with a bang in the wrong direction, ￰5￱ first, bitcoin dipped to $114,400 before the bears resumed full control of the market and pushed it south to $112,000, leaving over $1.7 billion in liquidations across the entire ￰6￱ bounced in the following hours, but dipped once more earlier today to a new two-week low of $111,600. It has recovered some ground since then and now sits close to $113,000. Its market capitalization has stalled at $2.250 trillion on CG, while its dominance over the alts stands tall at 56.4%. BTCUSD.