After another bullish weekend, cryptoers can be assured that the market is charging back to hit $1.5trn. Bitcoin surged to an 18-day high finally testing $35,000 once again.
Similarly, altcoins are touring the bullish part with number one altcoin, ETH closing in on $2,200, and meme coin DOGE finally settling at $0.20.
The surge in the price of Bitcoin represents over 17% surge in the crypto price over the past week.
Bitcoin’s road to $35,000
The weekend has been all bullish for Bitcoin and altcoins after a turbulent week. Things got worse on Tuesday when the price plummeted down to around $29,200 leading to fear and panic in the market.
Although after dropping below $30,000 it bounced back immediately and things got better after the highly-anticipated B Word conference. Positive news from Elon Musk and Jack Dorsey emerged at the event which saw Bitcoin record quick gains.
However, after a brilliant start to the weekend, Bitcoin’s leg up was not over. It spiked further upwards to about $34,800. This became the asset’s highest price line since July 7th.
The surge has culminated in a rise in the market cap of the number one crypto. It has tanked above $650 billion after dumping below $600 billion earlier this week. BTC’s dominance over altcoins also spiked a little above 46%.
ETH taps $2.2k as alts see massive price correction
Over the weekend, the altcoin market has had their share of the bull run, however, at press time, a lot of altcoins are experiencing price correction.
Number one altcoin, Ethereum which went as low as $1,720 has added roughly $500 value since then and earlier today touched $2,200. However, it currently sits at $2,125.
Binance coin has also experienced some gain although not as much as ETH. The coin is still yet to break above the $300 level.
On a 24-hour scale, Cardano Dogecoin and Polkadot have charted gains as well but are currently in the correction phase. Uniswap, Bitcoin Cash, Solana, and Litecoin have stalled, however.
THETA currently leads the green at press time with a 15% surge followed by ICP with a 9% surge.
The entire crypto market cap is up by over $200 billion and just few million shy of $1.5trn. It is currently at $1.44trn (CoinGecko).