After a few days of heading south and trading around and below the $41,000 mark, the bitcoin bulls returned to the scene and pushed the asset north to and beyond $43,000.
The altcoins are also in the green, with ADA standing out the most, followed by DOT, SHIB, AVAX, and SOL.
Ever since BTC registered a 19-month peak at $44,700 on Saturday, the landscape for the primary cryptocurrency wasn’t all that positive. It retraced to $44,000 during the rest of the weekend and dumped hard on Monday to under $41,000.
The situation worsened on Tuesday with another slip to $40,200. However, the bulls managed to defend that level and pushed BTC north to around $42,000. After failing to reclaim that line on Tuesday, the asset went on the offensive once again yesterday evening, and this time, it soared past $42,000 and even $43,000.
As of now, bitcoin trades inches below $43,000. Nevertheless, its market cap has increased by more than $30 billion since yesterday and sits close to $840 billion on CMC.
Its dominance over the altcoins has taken a slight hit, but it is still above 52%.
Most alternative coins were bleeding out yesterday, but the market is entirely different today. Cardano leads the charge from the larger-cap alts. ADA has soared by more than 12% on a daily scene and currently trades close to $0.65.
Solana (8%), Polkadot (7%), and Shiba Inu (7%) follow suit. As a result, SOL is above $70 again, DOT is north of $7, and SHIB is at $0.00001.
Avalanche, Ethereum, Ripple, Dogecoin, Chainlink, and Polygon have charted gains of up to 4%.
Even more gains come from BONK (42%), Helium (25%), WOO Network (25%), Injective (25%), and others.
The total crypto market cap jumped by over $60 billion at one point from yesterday’s low, but it is now still under $1.6 trillion.
