Crypto markets add $80 billion daily as Bitcoin (BTC) explodes to $71,000 (Market Watch)

After failing to break the $70,000 level on Monday, bitcoin went on the offensive in the last few hours and broke above it to hit a multi-week high above $71,250.

Altcoins have also turned green, with massive gains from the likes of Binance Coin, Toncoin, Shiba Inu, Uniswap and others.

BTC Sees 2-Week Peak

Price fluctuations at the end of last week could not predict what would happen at the beginning of the current one. BTC then stopped at $69,000 and pushed violently south to $66,600. The bulls managed to regain some ground over the weekend, with bitcoin settling at just under $68,000.

The picture began to change on Monday when the cryptocurrency jumped to just above $70,000, but once again stalled and settled below $69,000.

However, the bulls were quite persistent this time and fueled another rally on Tuesday evening and Wednesday morning which saw BTC soar to its highest price level in over two weeks of 71,300 dollars This came amid massive inflows into most local US Bitcoin ETFs.

As of now, BTC is inches above $70,000 and its market cap is $1.4 trillion. His dominance over the highs is in the same spot at 50.4% in CG.

Bitcoin/Price/Chart 06/05/2024. Source: TradingView BNB’s New ATH

Perhaps the most notable gainer today from larger cap alternatives is Binance Coin. After months of being on the sidelines and away from the meme coin craze, BNB rallied nearly $100 last day and hit a new all-time high of $715 today, closing the gap on Tether in its battle for third . largest cryptocurrency.

Other impressive gains include Toncoin (10%), Shiba Inu (9.6%), NEAR (6.7%), UNI (17.6%), WIF (7.7%) and CRO (6%).

ETH, XRP, ADA, LINK, TRX, DOGE, SOL and DOT are also in the green, but in a more modest way.

The total crypto market cap added approximately $80 billion in one day and is now close to $2.8 trillion in CG.

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