Markets
Crypto Markets Add $200 Billion in 4 Days as Bitcoin (BTC) Soars to 2-Week High (Market Watch)
Bitcoin’s price surge that began over the weekend continued into the early hours of Monday morning as the asset surpassed $63,000 for the first time in more than two weeks.
Altcoins also turned green again, which helped the total cryptocurrency market cap regain the $2.4 trillion level.
BTC hits 2-week high
Perhaps prompted by the German government unloading tons of confiscated BTC and the distribution and possible sale of Mt. Gox, the price of the leading cryptocurrency fell sharply in early July and hit a three-month low below $54,000.
The bulls finally intercepted the move last week and did not allow any further pullbacks. In fact, BTC started to regain some traction and ended the trading week at approximately $58,000.
O failed assassination attempt against pro-cryptocurrency US presidential candidate Donald Trump on Saturday was the most likely reason behind bitcoin’s weekend revival.
BTC first shot from $58,500 to $60,000 on Sunday morning before skyrocketing to its highest price level since July 1 of over $63,000, where it also currently stands.
Its market cap has increased to over $1.240 trillion while its dominance over alts is high at over 51% on CG.
Green dominates the alternative space
Most altcoins followed BTC on the way up. Ethereum was among the best performers over the past day, as the second-largest cryptocurrency added 5% daily and is now at a multi-week high of its own at $3,365. Binance Coin added 4% in value and is trading above $560.
Solana and Chainlink are up over 5% daily to $153 and $14, respectively. DOGE, AVAX, SHIB, DOT, and NEAR are also up around 3-4%.
Even bigger gains come from companies like MOG (18%), STX (13%), VET (10%) and JASMY (10%).
The total cryptocurrency market cap has soared to $2.420 trillion on CG. This means the metric has gained $100 billion since Saturday and over $200 billion in four days.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive $600 welcome offer on Binance (Full details).
LIMITED OFFER 2024 on BYDFi Exchange: Welcome Reward Up to $2,888, use this link to register and open a 100 USDT-M position for free!
Disclaimer: The information found on CryptoPotato is that of the writers quoted. It does not represent the opinions of CryptoPotato about buying, selling, or holding any investments. It is advised that you conduct your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more information.
Cryptocurrency Charts by TradingView.