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Crypto Markets Add $70B Daily as Bitcoin’s Price Hits Monthly High: Market Watch

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Bitcoin’s price rebounded swiftly after the Monday morning dip below $64,000 and has gained over two grand since then, climbing to a monthly peak of over $66,000.

The altcoin space has turned green as well. ETH is inching closer to $1,950, XRP is testing the $1.13 resistance, while ADA has stolen the show from the larger caps.

BTC Sees Monthly Peak

The previous business week began on a familiar note, as BTC priced in the weekend attacks in the Middle East and dropped below $62,000 from over $64,000. The bulls stepped up after the favorable CPI data for June, pushing the asset to $65,500 for the first time in three weeks.

However, its progress stalled there, and bitcoin dipped to $62,500 by Friday. Nevertheless, the bulls were more persistent once again and initiated an immediate recovery right before and during the weekend, in which the cryptocurrency climbed back to $64,000.

It tried to take down $65,000 on Sunday, but it was stopped and dropped once again on Monday morning. This time, it was a lot less painful, and it quickly rebounded from the daily low of $63,750.

It jumped past $65,500 earlier today before another leg up drove it to its highest price tag since June 17 at $66,300. It remains above $66,000 as of press time, and its market cap has jumped to $1.330 trillion on CG. Its dominance over the alts is also on the rise, currently at 57.2%.

BTCUSD July 21. Source: TradingView
BTCUSD July 21. Source: TradingView

Alts Turn Green

As mentioned above, green dominates almost all altcoin charts. Ethereum is challenging the $1,950 level before a potential run to $2,000. BNB has neared $580, while XRP and HYPE are up by approximately 4% daily. DOGE, ZEC, and XLM have marked similar gains, while Cardano’s native token has exploded by over 8% and now trades at a local peak of $0.175.

Impressive daily increases are evident from BCH, UNI, AAVE, DOT, and WLD. ONDO has rocketed by over 14% and sits close to $0.40.

The cumulative market capitalization of all crypto assets is up by $70 billion in a day. The metric has climbed to $2.320 trillion for the first time in a month.

Cryptocurrency Market Overview July 21. Source: QuantifyCrypto
Cryptocurrency Market Overview July 21. Source: QuantifyCrypto

 

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