Bitcoin’s price increases continued in the past 24 hours, with the asset soaring to a new multi-month peak at around $31,000.
The altcoins are also in the green. SOL touched $30 for the first time in months as well, while LINK and MATIC have skyrocketed by double digits.
It was a week ago when bitcoin skyrocketed by $2,000 in hours following a false report claiming that the SEC had finally approved a spot BTC ETF. Once that was rebutted, the cryptocurrency plummeted back down to $28,000.
However, the bulls kept control of the market and gradually pushed BTC toward $29,000 during the week. Once Friday came, they drove the asset to above $30,000 for the first time in August.
After a brief retracement, bitcoin went on the offensive once again during the weekend, and especially earlier today. As reported, the asset touched $31,000 during the Monday morning Asian trading session, which became its highest price tag since mid-July.
As of now, BTC stands a few hundred dollars below that local peak. Its market cap has neared $600 billion, while its dominance over the altcoins has been reduced slightly to 51.4% on CMC.
Chainlink has been among the top performers lately, as mentioned yesterday, and the popular altcoin has only doubled down in the past 24 hours. LINK has jumped by another 13% since Sunday and now stands at a multi-month peak of its own at over $10.
SOL is also at a local high, having surged past $30 following a 5.5% daily increase. Polygon is the other notable double-digit gainer from the larger-cap alts. MATIC is up by 10% and trades north of $0.6.
Ethereum, Binance Coin, Ripple, Cardano, Dogecoin, Toncoin, Polkadot, and Litecoin are also in the green, albeit in a more modest fashion.
With most mid- and lower-cap alts charting impressive gains as well, it’s no wonder that the total crypto market cap has shot up to $1.170 trillion on CMC today. This means that the metric has increased by roughly $100 billion in the past week or so.
