Bitcoin Regains $30K as Alts Heat Up

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Bitcoin has regained $30,000 on Tuesday after it had fallen to a 24-hour low of $29,100. The cryptocurrency was up 2.5% in the past 24 hours, and ether and other altcoins also rose. Ether climbed 1.3% to hold above $2,000. “There is potential for positive momentum in alts now, and the downside risk is limited, as most altcoins are still in limbo; you can think of it as a BTC take-profit and high-beta trade,” Matteo Bottacini, a trader at Crypto Finance AG, wrote in a morning note. Radix, a blockchain built to deploy the XRD token, has rallied 35% in the past 24 hours, and Arbitrum’s ARB gained 10%.

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