BTC spiking to $52K again only shows that the coin has the power to rise even higher as the crypto market cap reached $2.35 trillion so let’s read more in our latest bitcoin news today.
After dropping below $50K on Sunday, BTC went on a tear and surged to a new high above $52,000. Some altcoins were well in the green ith Binance Coin trading above $50 and Chainlink spiking 15% as well. The past few days were pretty great for BTC as the asset recovered from the price drops over the week below $47,000. in fact, it challenged $50,000 a few times and after the last one, it went to a high of $51,000. The price surge was short-lived as the bears didn’t allow it to go forwards. In the next few days, BTC dropped below the $50,000 price point and went down to over $49,000. But now, it seems that the BTC spiking to $52K shows that the coin is more powerful than initially believed.
BTCUSD. Source TradingView
The situation changed again in the past 24 hours and in a few hours, BTC gained $2000 of value. This resulted in exceeding $52,000 which became a new high price point since the mid-May correction. Despite retracting a few hundred bucks, Bitcoin’s market cap is near $1 trillion while the dominance over the other altcoins is still at 41.5%. Most other coins took a day off and showed an untypical lack of volatility but over the past 24 hours, the landscape seems different.
Cryptocurrency Market Overview. Source Quantify Crypto
Ethereum added 2% of the value and it is close to $4000 once more as Binance Coin took another swing at $500 with 1.5% increase. BNB stands north of this level and more gains were evident from Ripple by 5.5%, Solana 4% and Polkadot 6%, and DOGE by 3.6%. Uniswap increased by 4%, Litecoin also increased by 6%, and Bitcoin cash increased by 10%. Chainlink is the most impressive performer from the bigger cap altcoins with a 14% surge to $35. Quant increased the most 42% to a new high of $340, Filecoin increased by 22% and OMG Network increased as well by 22%. Algorand increased by 14% and by adding around $80 billion in one day, the market saw a multi-month record at $2.3 trillion.
As reported recently, Altcoins Dfinity and LTC surge overnight as the entire crypto market cap inched forwards less than a percent to settle on the $2.53 trillion. Litecoin shot up to 13th place on the global market cap leaderboard as the coin’s value blew up 16.2% overnight as its secured a price of $221.60 and LTC already has a market cap of $14.75 billion.