Bitcoin’s gradual ascent continued in the past 24 hours as the asset tapped $86,000 for the first time since April 2.
The altcoins have also posted notable gains once again, with XRP and SOL leading the pack from the larger caps.
The rollercoaster of a week for BTC began with a nosedive from $84,000 to a five-month low of under $75,000 on Monday. Although the asset attempted an immediate recovery, it was ultimately stopped and pushed toward the same levels on Wednesday. This came amid the escalating tension between the US, China, and the rest of the world.
However, bitcoin started to reclaim ground once US President Trump paused the tariffs on every other nation, aside from China. The cryptocurrency skyrocketed by several grand on Wednesday and tapped $83,300.
As China retaliated, BTC retraced slightly to under $79,000, but reversed its trajectory in the following few days. This culminated yesterday at $86,000, which became an 11-day peak.
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Although it has failed there and now sits below $85,000, BTC’s market cap is up by $1.680 trillion on CG. Its dominance over the alts continues to stand tall above 60%.
The altcoins are also in the green today, with ETH reclaiming $1.6 after a 3% daily surge. XRP and SOL have marked similar increases of around 5% and now trade close to $2.15 and $130, respectively. SUI and BCH have jumped by 6-7% to $2.33 and $340, while PI has stolen the show from the larger-cap alts once again.
The altcoin, which was declining severely for over a month, has jumped by another 10% in the past day and trades close to $0.75.
BNB, DOGE, ADA, LINK, and XLM also have some gains but in a more modest manner.
The total crypto market cap has added more than $40 billion overnight and is up to $2.79 trillion on CG.