With Bitcoin (BTC) showing signs of recovery following Friday’s market crash, the asset has exceeded the $107,000 mark for the first time post the Israel-Iran skirmishes. Although many altcoins have recorded significant gains in the past 24 hours, HYPE is leading the pack with another record high.
The previous week had seen Bitcoin surpass the $110,000 mark several times from Monday to Wednesday. However, the primary cryptocurrency was unable to solidify its standing at this level, resulting in a gradual decrease in value. The most significant drop occurred on Friday when BTC plunged from $108,500 to below $103,000 within minutes. This steep fall was triggered by Israel’s missile attack on Iran, causing over 70 fatalities.
Despite Iran’s retaliation on Saturday and the continuation of these attacks over the weekend, Bitcoin managed to regain some ground. After futile attempts to breach the $106,000 mark on Sunday, BTC finally crossed this threshold, reaching over $107,000 on Monday morning. As a result, its market capitalization has shot up to $2.130 trillion on CG, maintaining a dominance of 61.5% over other altcoins.
Ethereum has also seen a growth of approximately 5% over the past day, now trading well above $2,600 after testing the $2,500 support. Other altcoins, including XRP, BNB, DOGE, TRX, ADA, BCH, and LINK, are also in the green. SOL has emerged as the biggest gainer among the top 10 altcoins, with its token trading above $155 after an 8% jump.
Yet, HYPE has outshone all others by setting another all-time high, this time nearing $45. HYPE has once again seen a double-digit increase on a daily basis. Other notable gainers include SUI, AVAX, UNI, TAO, ICP, AAVE, ONDO, and more. SPX and AB have surged from the top 100 altcoins.
The total crypto market cap has seen a remarkable $80 billion increase since yesterday, reaching $3.460 trillion on CG.
