UNI Slumps 17% Following SEC Developments, BTC, ETH, DOGE, TON on the Rise (Market Watch)

Bitcoin’s price slumped hard yesterday following the latest US CPI announcement but went on the offensive hours later and currently flirts with the $71,000 line.

Moreover, DOGE, TON, NEAR, WIF, VET, and ETC have had impressive gains over the past day or so, with TON and WIF surging by about 9%.

BTC Challenges $71K

BTC had fallen below $66,000 on Friday but started to regain traction during the weekend and even challenged the $70,000 level on Sunday. However, it was short-lived as the bears managed to intervene.

However, the bulls stepped up on the gas pedal once again on Monday, and this time, the asset flew past the round-numbered milestone. In fact, the cryptocurrency soared to a four-week peak of just over $72,500 later on the day.

The bars quickly returned to the scene, though, and drove Bitcoin south once again. This retracement intensified yesterday when the US announced higher-than-expected CPI numbers for March. Minutes later, BTC found itself slipping to $67,500.

Still, the asset has recovered almost all losses since then and now trades at around $71,000. Its market capitalization has risen to $1.4 trillion, while its dominance over the alts is just over 50% on CG.

UNI Freefalls

The biggest news in the crypto space yesterday came from the SEC once again, as the agency sent a notice of intent to sue Uniswap Labs, the project behind the largest decentralized exchange. Although the crypto protocol’s team said they were ready to fight the regulator, the native token slumped hard. In fact, UNI is now down by 17% on a daily scale and struggles below $10.

In contrast, most of the larger-cap alts are in the green. ETH has pumped to $3,600, BNB sits at around $600, while DOGE and TON have jumped by 7% and 9%, respectively.

More gains come from the likes of WIF (9%), ETC (5%), VET (6%), and NEAR (5%).

The total crypto market cap has erased yesterday’s losses and is up to almost $2.8 trillion.