Bitcoin Surges to $22K, While Altcoins Are Plummeting

• Bitcoin recently attained a sudden price surge, reaching above $22k.
• Major altcoins witnessed a price downfall, during the last 24 hours.

After falling around $18,000 in the previous week, the market dominator, Bitcoin (BTC) has now been going through a positive momentum in the global cryptocurrency market. During the past 24 hours, Bitcoin has attained significant price growth, registering more than $22,000. However, over the past few days, the price of BTC has been continuously going up and down. 

CEO of Mudrex, Edul Patel recently stated: 

If the price of BTC can close above its current level at $21,700, we could soon see it rally towards the $24,000 level this week. But if it fails to break this region, we might see it retest the $20,700 level.

At the time of writing, Bitcoin is trading around $21,759.54 with a 24-hour trading volume of $40,234,039,619. BTC has increased by nearly 0.83% in the last 24 hours, according to CMC. 

Sudden Downfall of Altcoins

Currently, the global crypto market is showing a bearish signal. Apart from Bitcoin, the major altcoins started witnessing a sudden fall during the last 24 hours. The second leading coin, Ethereum (ETH) is currently trading at around $1,730.26. ETH decreased by nearly 1.94% on the previous day. 

Other leading altcoins are also suffering from a rapid plunge. As per CMC, Binance Coin (0.40%), XRP (1.04%), Cardano (1.57%), Solana (0.15%), Polkadot (1.24%), Dogecoin (1.52%), Polygon (2.15%) and Shiba Inu (0.38%) registered a downfall during the past 24 hours. 

Additionally, major stablecoins such as Tether (0.00%) and Binance USD (0.03%) also dropped down. However, USD Coin registered an increase of 0.03% in the last 24 hours. 

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