BTC bulls challenge $ 66K as the crypto market rebounds
BTC bulls challenged the $ 66,000 price range, with the entire crypto market rebounding from $ 100 billion in one day and ETH breaking $ 4,700, so let’s take a closer look at the news.
After a few days of volatile price movements, Bitcoin finally hit and challenged $ 66,000, with most of the other altcoins rebounding and ETH rebounding $ 4,700 and SOL trading above $ 240. Even since last week’s record of $ 69,000, BTC’s landscape has been pretty rough as the cryptocurrency is unable to continue rising in the coming days, losing around $ 7,000. This ended in a sharp drop to new weekly lows of over $ 62,000 over the weekend. Bitcoin attempted a slight rebound on Sunday, hitting $ 65,000 before the bears pushed it back south to $ 63,500.
BTC bulls challenged the $ 66,000 range again when Bitcoin sparked a rapid surge in price. It added several thousand dollars in just a few hours, and in its current position exceeded $ 66,000. Bitcoin’s market cap has rebounded to $ 1,250 trillion while its dominance over altcoins is over 43%. Altcoins have suffered in the past few days, just as ETH fell below $ 4,500, but then the second largest altcoin gained more than 3% in the past 24 hours and rebounded $ 4,700.
The rise of Solana is similar to the rise of Ethereum. SOL is over $ 250 and Ripple, Cardano, Binance Coin and SHIB are also back in the green. Litecoin jumped 9% in one day to climb over $ 270, with CRO rising the most among the top 20 coins with a huge gain of 25% to $ 0.50. in contrast, Doge lost 2.4% and Terra was unchanged. Further price gains can be seen on WAX as it is up 34%, TRON is up 13%, Vechain is up 11%, Telcoin is up 10% and ANKR is up 20%. The market capitalization of cryptocurrencies also rebounded by $ 100 billion in a single day, topping $ 3 trillion, according to Coingecko.
We recently reported that the positive market momentum during last Monday morning’s Asian session increased total market capitalization by 3.1%. It has hit a new all-time high of over $ 3 trillion as of press time, according to analytics website CoinGecko. Total market cap hit a new high of over $ 3 trillion as it grew 8.4% over the past 14 days and 25.5% over the past 30 days.