Our quick analysis:
Bitcoin's volatility continued over the past 24 hours, as the digital asset dipped to a new two-month low before making a substantial recovery. Meanwhile, altcoins were in better shape, with Lido DAO experiencing a massive double-digit price surge.
BTC's ups and downs have been a rollercoaster for crypto enthusiasts recently. When the US CPI numbers for April came in lower than expected, Bitcoin experienced a sudden spike. However, this was short-lived as the cryptocurrency plummeted by over a grand soon after. Thursday and Friday continued to prove painful for BTC bulls, culminating in a price drop to $25,800, its lowest point in approximately two months. Yet, the bulls rallied back and managed to push bitcoin north slightly above $27k, but the asset has been unable to reclaim that level.
In the face of all this volatility, altcoins have offered some much-needed stability. While many investors are hurting from ETH's decline from $2,000 to $1,700, there have been minor daily increases, pushing it to $1,800. Other altcoins such as Binance Coin, Cardano, Dogecoin, Tron, Litecoin, Shiba Inu, and Avalanche have charted similar daily gains.
Despite the declines and increases across the market, Lido DAO's performance stands out. The altcoin experienced a massive 13% daily surge and trades at approximately $1.9.
In summary, the total crypto market cap has added over $30 billion since yesterday's low and is at $1.2 trillion. The crypto market has once again proved to be an unpredictable beast, with highs and lows that are enough to make you dizzy. Nevertheless, altcoins like Lido DAO continue to impress, giving hope to investors looking to diversify their portfolios.
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Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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