After several days of trading south and dropping to around $40,500, bitcoin finally initiated a notable leg-up that resulted in soaring past $43,000 earlier today.
The altcoins have also turned green, with SOL jumping above $70 and ADA touching $0.6.
BTC Back to $43K
It’s safe to say that the past several days didn’t go all that well for the primary cryptocurrency. The weekend, for example, saw the asset failing to overcome the $43,000 level, and the subsequent rejection pushed it south to around $42,000.
The landscape worsened on Monday morning when bitcoin dropped even further and found itself slipping to a 5-day low of $40,500.
This is where the tables started to turn as the bulls came out to play. Instead of heading further south, BTC went on the offensive and soared by almost three grand in less than a day. This resulted in exceeding $43,000 for the first time since last Thursday.
As of now, BTC stands at around $43,000, being 5% up on the day. Its market capitalization has soared to over $840 billion, while its dominance over the alts has reclaimed some ground and stands above 52%.
Altcoins Turn Green
Most alternative coins also suffered in the past several days, but the market is entirely different now. Solana leads the charge from the larger caps with a massive 10% surge. As a result, SOL now stands above $75. Cardano follows suit with a 9% increase that has pushed ADA to $0.6.
Avalanche (6%), Polkadot (6%), Shiba Inu (6%), Dogecoin (4.3%), Chainlink (4.5%), and Ethereum (4.3%) are next from this cohort of alts. Binance Coin, Ripple, Polygon, and Tron are also in the green, albeit in a more modest fashion.
Injective and IMX have skyrocketed the most from the top 50, with INJ being up by more than 30% and IMX by 18%.
The total crypto market cap has added around $60 billion in a day and has reclaimed the $1.6 trillion level on CMC.
Cryptocurrency charts by TradingView.
