Due to rumors that suggested the CEO of Binance CZ was wanted by Interpol, The primary cryptocurrency had to go through another wave of massive volatility.

This week began with calm movements for Bitcoin as it traded around $28,000. However, news surrounding CZ and Binance began to emerge as rumors popped on Twitter and other crypto media outlets that the CEO was on the wanted list of Interpol. CZ came out to quickly deny the allegation as it seemed to be a piece of fake news.

Although the damage was done already as Bitcoin suffered a sharp drop in price to $27,200. Nevertheless, as soon as CZ quelled the rumors, the asset recovered quickly and is now trading above $28,000 as of the time of this writing.

Image Source: TradingView

Bitcoin’s dominance over alts took a slight hit and is now down to 41.6%, its market cap is further away from $550 billion.

For some time now, the CEO of Tesla – Elon Musk has failed to interact with the crypto industry, however, he suddenly caused a surge in his favorite meme coin – Dogecoin, having posted a picture related to the cryptocurrency on his personal Twitter account. This drove the asset to over $0.1 for the first time in months. Currently, DOGE is sitting a few inches away from that price tag but it’s still up by 25% for the day.

Shiba Inu is also a notable gainer from amongst the larger-cap alts. The meme coin rallied by 6% and is trading at $0.000011.
Other alts including ETH, BNB, SOL, AVAX, and LTC have failed to move substantially in either direction. ADA and XRP have lost the most, dropping by 2% and 37%, respectively.

The total crypto market capitalization is now at $1.175T as it dropped by $10 billion in a day.

Featured Image Source: Mint

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