Bitcoin reacted well to the dump below $94,000 earlier this week and jumped past $97,000 earlier today for the first time since Monday.
Many altcoins have produced even more impressive gains over the past 24 hours, with XRP surging to $2.7 and SUI going to $3.3.
BTC Taps $97K
After the massive volatility experienced at the start of the previous business week, the primary cryptocurrency calmed in the following days and stood mostly in a range between $95,000 and $97,000. Each breakout attempt, such as the surge to $99,000 on Friday, was met with an immediate rejection, and the asset spent the weekend around the upper boundary of the range.
Monday began with a price dip that drove it south to the lower boundary, but the bulls managed to defend that level. After another 24 hours of trading there, the bears took control on Tuesday evening and pushed BTC to a two-week low of under $93,500.
However, the bulls stepped up at this point and didn’t allow a further breakdown. Just the opposite, bitcoin started to regain traction and jumped past $96,000 yesterday and up to $97,000 earlier today.
This means that its market cap has neared $1.930 trillion on CG. Its dominance over the alts has also climbed to 58%.
XRP Goes Up
Most altcoins endured similar pressure on Tuesday but managed to recover most losses in the following 36 hours. Ripple’s cross-border token is among the top performers on a daily scale, having surged by nearly 5% to a multi-day peak at $2.7. SUI has added a similar percentage and is up to $3.3, while XLM has gained 3.5% and trades close to $0.35.
ADA, AVAX, SOL, and HBAR are also slightly in the green, while HYPE and TAO have soared by 8% and 15%, respectively.
In contrast, the recent high-flyer LTC has retraced by 6% and is below $130 now. ETH, DOGE, BNB, TRX, and LINK are also slightly in the red.
The total crypto market cap has jumped to $3.330 trillion on CG.
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Cryptocurrency charts by TradingView.
