Bitcoin finally managed to reach $25,000 on Sunday yesterday but the joy of recapturing June's highs was short-lived. BTC price has risen from $24,882 to $25,000, a reading last seen in early June, and is currently trading at $24,685.
Bitcoin posted its biggest monthly decline since 2011 in June where it fell over 37.3% and was worth $19,925 at the end of the month. It has since regained some of its value and tested $25,000 for the first time since that day.
Despite being down 46.5% from its previous high, Bitcoin continues to dominate the chart, but its dominance has dwindled to only about 40% compared to more than 50% a few months ago.
It is not yet clear whether BTC will reclaim the $30k level or not as some experts are more inclined towards Ethereum consolidation in the next month.
Recently, most cryptocurrencies have risen and the total market capitalization is close to $1.20 trillion after dropping to less than a trillion a few months ago when the market was hit by several unfortunate episodes.
Unfortunately the surge above $25,000 to a new two-month high was short-lived, losing more than $1,000 in value within hours. Most altcoins are also in the red today, after posting gains.
Since the dip below $23,500 at the end of last week, BTC has performed quite well. The asset reacted immediately to the decline and approached $25,000 by Saturday.
Markets continue to pay attention to Bitcoin price movements.
