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Crypto Markets Add Almost $100 Billion as Bitcoin Jumps to 3-Week High (Market Watch)

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Bitcoin’s good streak as of late continued in the past 24 hours as the asset jumped past $87,500 for just the second time this month.

The altcoins are also with notable gains, led by LINK, AVAX, and XLM from the larger-cap cohort.

BTC Rises Past $87K

Ever since the multi-month low of under $75,000 charted two weeks ago, the primary cryptocurrency has been gradually reclaiming its lost value. It surged past $80,000 at the end of that week (April 11) and hasn’t looked back.

The past trading week went calmly but positively for BTC as it remained within a healthy consolidation range of between $84,000 and $86,000. The weekend was also going quietly until the early Monday Asian trading session changed the landscape.

After sitting at around $84,500 for the past day or so, bitcoin went on the offensive hard and skyrocketed to over $87,600, where it currently stands. This became its highest price tag since April 2, and just the second time this month, the asset has jumped so far ahead. Perhaps one of the reasons behind this is the weakening dollar, more of which you can find here.

For now, though, its market cap has surged to over $1.735 trillion on CG, while its dominance over the alts is back to 61%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Turn Green

Most altcoins were trading sideways during the weekend as well, but the situation is different now. Ethereum has jumped past the $1,600 resistance and now sits about $50 higher after a 3.3% daily increase. XRP is above $2.1 after a similar jump. DOGE and ADA have marked increases of around 3-4% as well.

Even more impressive daily gains come from the likes of LINK, AVAX, XLM, SUI, HBAR, PEPE, APT, LTC, and others.

The lower-cap alts are led by STX, which has surged by 14% since yesterday, and INJ, which is up by 8%.

The total crypto market cap has added over $80 billion in a day and has increased to $2.855 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

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