The crypto market seems to be on the mend following Friday’s downturn. Bitcoin (BTC), the leading cryptocurrency, has returned to a price point above $118,000 after a brief slump. Meanwhile, despite a generally quiet Sunday for altcoins, a few have managed to reach multi-month highs, including Cronos (CRO).
Bitcoin’s latest surge comes after a slight dip in price, dropping below $120,000, followed by a consolidation period. BTC then experienced a few rejections at the $120,000 mark, which led to a significant downturn to a low of $114,500. This was largely due to Galaxy Digital selling 80,000 BTC (worth over $9 billion) on behalf of a third party.
After the sell-off, Bitcoin’s price began to bounce back, surpassing $117,000 yesterday and reaching $118,400 today. As a result, the asset has rebounded by $4,000 since its Friday low. Bitcoin’s market cap now stands at $2.350 trillion, with its dominance over altcoins hovering at 59.2%.
Other altcoins have also seen minor gains. Ethereum’s price climbed to $3,800 today following a 1-2% increase. Ripple’s native token stands at $3.2 following a similar jump. Other altcoins including BNB, SOL, DOGE, TRX, and ADA have also seen similar increases.
CRO and BCH have witnessed over 5-6% growth in a day, with CRO breaking a new six-month record of over $0.14. The top performer among the top 100 altcoins is HBAR, with an increase of over 10%, trading at over $0.29. The total crypto market cap has added another $30 billion, currently standing at $3.970 trillion.
