Bitcoin’s price swings continue in full force as the asset bounced off $81,000 yesterday and gained eight grand in hours after that.
Many altcoins have produced even more impressive gains, helping the total crypto market cap go to $3 trillion.
BTC Aims at $90K?
What a period to be in the cryptocurrency space. Bitcoin’s price went through a massive volatile ride last week, from over $96,000 to $78,000. After that multi-month low, it recovered some ground and spent the weekend at around $84,000-$86,000.
The situation took a change for the better on Sunday afternoon following Trump’s latest interaction with the sector, and BTC shot up by ten grand to $95,000.
However, it was quickly rejected there and pushed south on Monday evening and Tuesday. The culmination came yesterday with a price dump to $81,500. Another reversal arrived at this point as BlackRock’s CEO urged people to consider buying the tip, and bitcoin went on the offensive again. This time, it jumped to $89,000 in mere hours after that drop below $82,000.
It has lost some steam since then but now sits at around $88,000 and is 5% up on the day. Its market capitalization has neared $1.750 trillion on CG, while its dominance over the alts stands tall at 58%.
ADA, LINK Shoot Up
Many altcoins have produced impressive gains over the past day, led by Chainlink and Cardano. Both assets have soared by over 16% within this timeframe and now trade above $16 and close to $1, respectively.
Ripple and Ethereum have also charted notable increases of over 5%. Consequently, ETH remains above $2,200, while XRP has tapped $2.5.
BNB, SOL, DOGE, TRX, AVAX, and SUI are also in the green from the larger-cap alts, while OM, XMR, HBAR, HYPE, and BCH, and especially AAVE, have painted big gains from the mid-caps.
The total crypto market cap has recovered roughly $200 billion since yesterday and is up to $3 trillion on CG.
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Cryptocurrency charts by TradingView.
