Crypto Markets Add $200B in 4 Days as Bitcoin (BTC) Soars to 2-Week Peak (Market Watch)

5 months ago 3

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Bitcoin’s price ascend that started during the weekend continued in the early Monday morning hours as the asset flew past $63,000 for the first time in over two weeks.

The altcoins have also turned green once again, which has helped the total crypto market cap reclaim the $2.4 trillion level.

BTC Sees 2-Week High

Perhaps driven by the German government offloading tons of confiscated BTC and the Mt. Gox distribution and possible sale, the price of the leading cryptocurrency slumped hard at the start of July and fell to a three-month low of under $54,000.

The bulls finally intercepted the move last week and didn’t allow any further retracements. In fact, BTC started to regain some traction and ended the business week at roughly $58,000.

The failed assassination attempt against the pro-crypto US Presidential candidate, Donald Trump, on Saturday was the most probable reason behind the weekend revival of bitcoin.

BTC first shot up from $58,500 to $60,000 on Sunday morning before it skyrocketed to its highest price level since July 1 of over $63,000, where it currently stands as well.

Its market cap has risen to over $1.240 trillion, while its dominance over the alts stands tall at over 51% on CG.

Green Dominates the Alt Space

Most altcoins have followed BTC on the way up. Ethereum is among the top performers in the past day, as the second-largest crypto has added 5% daily and now sits at a multi-week peak of its own at $3,365. Binance Coin has added 4% of value and trades above $560.

Solana and Chainlink have increased by more than 5% daily to $153 and $14, respectively. DOGE, AVAX, SHIB, DOT, and NEAR are also up by around 3-4%.

Even more gains come from the likes of MOG (18%), STX (13%), VET (10%), and JASMY (10%).

The total crypto market cap has shot up to $2.420 trillion on CG. This means that the metric has gained $100 billion since Saturday and more than $200 billion in four days.