Axie Infinity (AXS) Gains 17% as Bitcoin Steadies above $41K

Most assets in the cryptocurrency market calmed following a positive and volatile Saturday. Bitcoin stands beyond $41,000.

Bitcoin kept its momentum to stay beyond the $41,000 level. The impressive leg up came after Bitcoin struggled beneath $40K for several weeks. Meanwhile, altcoins appear to stall following yesterday’s significant gains. Axie Infinity (AXS) is one of the exceptions, with its double-digit upward move.

Bitcoin Maintains beyond $41,000

As highlighted earlier, the world’s largest crypto struggled around the $37K level and plunged beneath the mark on a few occasions. However, bulls tried to push BTC northward, taking it to value levels of $38K on Friday.

Such developments saw the landscape changing. Bitcoin launched an impressive upside move within the following hours, surging past $40,000, exploring weekly highs. Furthermore, BTC regained the $41K level and approached $42K. For now, the coin seems ready to surge, with its market cap approaching $800 billion again.

Altcoins Stall: AXS Gains with Double Digits

The altcoin market saw remarkable price gains yesterday, most assets surging double-digits. However, the majority of them have calmed while writing this content. Ethereum rides beyond its weekly peaks above $3K, even with minor losses over the past 24hrs.

Further brie declines came from Solana, Cardano, Binance Coin, Shiba Inu, Avalanche, Dogecoin, Terra, Polkadot, and Ripple. Contrarily, CRO surged another 3%, as Litecoin’s 8% value increase had its standing beyond $125.

Axie Infinity led today’s gainers after a nearly 17% increase, changing hands well beyond $60. Theta Fuel (10%) and Gala (20%) also saw double-digit surges. As somewhat expected, the crypto market remained moderately calm, hovering at $1.9 trillion.

For now, altcoins will depend on Bitcoin’s price movements as far as directional trends are concerned. Analysts have mixed projections for the market. Some experts believe BTC will continue rising, while others believe a drop before the upward continuation.

Bitcoin has to keep its price reactions beyond $41K to support bullishness in the near term. That way, Axie Infinity can preserve its current momentum, contemplating further gains. Market players may avoid long positions until the market displays significant directional biases.

Stay tuned for more crypto news.

Editorial credit: TongRoRo / shutterstock.com

By Edward Richardson
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