Bitcoin’s recent price appreciations continued in the past 24 hours, and the asset touched and briefly exceeded $48,000 for the first time in months. Most altcoins have calmed, but Terra broke above $100 and tapped a new all-time high.
The past several days were highly positive for the primary cryptocurrency as the bulls kept a stronghold on the market. It all started a week ago when BTC was close to breaking below $40,000, but the asset bounced off rather decisively by adding $2,000 in hours.
After a few days of consolidation, bitcoin went on the offensive again and tapped $45,000 on March 25. The scenario repeated once again, and BTC started surging again on late Sunday and early Monday.
After leaving over $400 million in liquidations on a daily scale, the cryptocurrency spiked to nearly $48,000 for the first time since the start of the year. It failed to breach that level at first, but the bulls pushed it north once again hours later. This time, BTC briefly exceeded $48,000 to chart a new three-month high.
As of now, it has retraced by a few hundred dollars and stands around $47,500. Nevertheless, its market capitalization sits at just over $900 billion.
The altcoins also mimicked BTC’s performance yesterday, with notable price gains from all across the board. Now, though, most have calmed.
Ethereum has gained another 3% in the past 24 hours and has surged above $3,400. This is the asset’s highest price tag since early January.
Binance Coin, Ripple, Cardano, Solana, and Avalanche are slightly in the green as well. Shiba Inu is about 5% up on the day and sits close to $0.00003. In contrast, Polkadot and Dogecoin have produced minor losses.
Terra is the most substantial gainer from the larger-cap altcoins. Luna has soared by another 9% and broke above $100. As a result, the asset charted a new all-time high at $105 earlier today.
Waves has surged the most from the top 100 following a 60% increase in a day. As a result, WAVES has touched $50. More gains come from Loopring 16%, Compound (14%), and THORChain (13%).
The crypto market cap has increased a bit more and now stands at $2.150 trillion.
