Bitcoin’s price initiated another leg up in the past several hours, blasting past $80,000 and $81,000 for the first time since the middle of May.
BTC even outperformed many larger-cap altcoins, which resulted in an uptick in its dominance over the market.
Bitcoin Exceeded $81K
It was just a week ago when we were wondering what would be the new (old) thing that we could write about the crypto market, as bitcoin had stalled below $65,000 for a long, long time. However, Wednesday afternoon changed the trend. Whether it was the US Treasury Department’s announcement, the White House Crypto Summit, or something else, BTC exploded out of the gate with force.
It went to $70,000 within a few hours, dipped back to $68,000, and then skyrocketed once again to $75,000 by Thursday. The bulls took it a step further on Friday, helping BTC climb to almost $80,000 for the first time since mid-May.
After gaining $15,000 in days, the asset was due for a correction, which took place during the weekend with a price slip to $75,500. Nevertheless, the bull returned in full force at the start of the new business week, pushing bitcoin to over $81,000 earlier today to mark a 15-week peak.
It was stopped there and now sits inches below $80,000, but its market cap has risen to $1.6 trillion. Its dominance over the alts has rocketed to 58% on CG and to almost 60% on CMC after its latest run.
SOL Touches $100
Solana’s native token is the top performer among the larger-cap alts today, surging by 7% to over $100 for the first time in months. HYPE has neared its all-time high of $83, marked a few days ago, once again, as it now sits close to $82. ZEC has surpassed DOGE as the 10th-largest cryptocurrency by market cap.
XMR and RAIN are the other top performers from this cohort of assets, while MORPHO, AAVE, and LTC have dropped the most. Meanwhile, ETH remains inches below $2,500, XRP is stuck at $1.50, and BNB is back above $700.
The total crypto market cap has added nearly $100 billion since yesterday and is up to $2.770 trillion on CG.
Source: CryptoPotato
