Double-Digit Gains From These Altcoins as Bitcoin Reclaims $106K: Market Watch
Bitcoin’s price went on a substantial run in the past 24 hours or so, surging from under $102,000 to a multi-day peak of over $106,500.
Many altcoins have followed suit with even more impressive gains, including XRP, which has risen by 12% daily to reclaim the $2.50 level.
BTC Above $106K
The previous business week was quite painful for the primary cryptocurrency. The downfall began on Monday morning when it was rejected at $111,000 and pushed south to under $104,000. Although it bounced off initially to over $106,000, the bears had a tight grip on the market and drove the asset south to under $100,000 for the first time since June.
Bitcoin bottomed at just under $99,000 on Tuesday, but the subsequent rebound was short-lived. It was stopped at $104,000 and driven back to a five-digit price territory by Friday. However, this recovery was more impressive and sustainable.
BTC jumped toward $104,000 once again on Friday, and even though it was halted there at first, it remained around $101,000-$102,000 during the weekend. A more notable leg up followed on Sunday afternoon after US President Trump promised a tariff dividend to almost all Americans of at least $2,000.
At first, bitcoin tapped $104,000 but kept climbing on Monday morning. It exceeded $106,000 and reached a multi-day peak of just over $106,500 earlier today. Its market cap has reclaimed the $2.1 trillion tag, but its dominance over the alts has declined to 57.5%.
BTCUSD. Source: TradingView
Big Gain Alts
The decreasing BTC dominance in times of market resurgance means that the alts have performed better. XRP is a prime example as it has soared by more than 12% in the past day and now sits well above $2.50. ETH has reclaimed the $3,600 level following a 6.5% increase, while SOL is close to $170 after a 7% pump.
ADA, HYPE, LINK, ZEC, BCH, and LTC are also well in the green. The double-digit price gainers club is also joined by APT, ENA, AAVE, XLM, HBAR, RENDER, UNI, PUMP, and WLFI, which actually led with a massive 31% surge.
The total crypto market cap has added $170 billion daily and is up to $3.680 trillion on CG.
Cryptocurrency Market Overview Daily. Source: QuantifyCrypto
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