Markets
Cryptocurrency Markets Add $200 Billion in 4 Days as Bitcoin (BTC) Soars to 2-Week High (Market Watch)
Bitcoin’s price rally, which began over the weekend, continued into the early morning hours of Monday, when the asset surpassed $63,000 for the first time in more than two weeks.
Altcoins also returned to the green, which helped the total cryptocurrency market capitalization reclaim the $2.4 trillion mark.
BTC hits 2-week high
Perhaps spurred by the German government dumping tons of confiscated BTC and the distribution and possible sale of Mt. Gox, the price of the leading cryptocurrency fell dramatically in early July and fell to a three-month low below $54,000.
The bulls finally caught the move last week and did not allow any further retracements. In fact, BTC started to regain some traction and closed the business week at around $58,000.
THE failed assassination attempt against pro-cryptocurrency U.S. presidential candidate Donald Trump on Saturday was the most likely reason behind bitcoin’s rally over the weekend.
BTC first shot high from $58,500 to $60,000 on Sunday morning, before jumping to its highest price level since July 1, above $63,000, where it currently sits.
Its market cap has risen to over $1.240 trillion, while its dominance over alts is over 51% on CG.
Green dominates the alternative space
Most altcoins have followed BTC on its upward path. Ethereum is among the best performers in recent days, as the second-largest cryptocurrency has added 5% on the day and is now at a multi-week high of $3,365. Binance Coin has added 4% in value and is trading above $560.
Solana and Chainlink are up more than 5% on the day, reaching $153 and $14, respectively. DOGE, AVAX, SHIB, DOT, and NEAR are also up around 3-4%.
Further gains came from companies such as MOG (18%), STX (13%), VET (10%) and JASMY (10%).
The total cryptocurrency market cap has risen to $2.42 trillion on CG. This means that the metric has gained $100 billion since Saturday and more than $200 billion in four days.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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