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Bitcoin Faced Massive Volatility Amid Binance FUD, DOGE Skyrockets 25%: Market Watch

Bitcoin went through yet another volatile rollercoaster following rumors that Binance’s CEO was wanted by Interpol.

Several altcoins are still in the red on a daily scale, while Dogecoin briefly exceeded $0.1 earlier today in another surge propelled by Elon Musk.

Bitcoin’s Price Fluctuations

In a repeat of the start of last week, this one began with rather calm price movements for bitcoin, which stood at around $28,000. However, news surrounding Binance and its CEO emerged, just like last week, that pushed the cryptocurrency south hard.

This time, rumors popped on Twitter and a few crypto media outlets claiming that Changpeng Zhao was served with a Red Notice by Interpol. He quickly denied the speculations as it seems that it was fake news.

However, BTC experienced a sharp price drop driving it by over a grand lower to $27,200. Nevertheless, the asset bounced off after CZ cleared the air and has returned to roughly $28,000 as of writing these lines.

Its market capitalization is further away from $550 billion, and its dominance over the alts has taken a slight hit and is down to 46.1%.

BTCUSD. Source: TradingView

DOGE Pumps 25%

It has been a while since Tesla’s CEO – Elon Musk – interacted with the crypto industry and his favorite memecoin in particular. However, that changed yesterday when he posted a Dogecoin-related picture on his personal Twitter account. The asset reacted with an immediate surge that drove it to over $0.1 for the first time in months. As of now, DOGE sits inches away from that price tag, but it’s still 25% up on the day.

The other notable gainer from the larger-cap alts is Shiba Inu. The second-largest memecoin is up by 6% and sits at $0.000011.

In contrast, BNB, MATIC, ETH, SOL, LTC, and AVAX stand quietly without substantial moves in either direction. XRP and ADA have lost the most, dropping by 3.7% and 2%, respectively.

The total crypto market cap has declined by $10 billion in a day and is now at $1.175T.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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