After another drop to $48,000, bitcoin went on a roll and added more than $3,000 of value in a day. The altcoins are also mostly in green, with Terra stealing the show following a double-digit surge to a new all-time high at $100.
Bitcoin Spikes Above $51K
The primary cryptocurrency tried its hand with the coveted $50,000 mark on several occasions in the past few weeks with little-to-no success. The latest failed attempt came two days ago when BTC was stopped at just shy of that level.
The subsequent rejection drove the asset south again to around $48,000, as reported yesterday. However, this is where the bulls came out to play again and changed the landscape.
In the following hours, BTC started to increase in value rapidly. This led to breaking above $50,000 and even reaching $51,500, which became the highest price tag since December 7th. Bitcoin’s market capitalization has increased to well above $950 billion.
Alts in Green: LUNA at $100
The past 24 hours were also highly bullish for the alternative coins. Ethereum, which struggled below $3,800 just a few days ago, now stands above $4,100 following a 5% daily increase.
Binance Coin is up by a similar percentage, and BNB stands near $550. Solana (6%), Cardano (8%), Polkadot (7.5%), Avalanche (3.5%), Dogecoin (3.5%), Shiba Inu (8.5%), and MATIC (2%) are also well in the green.
CryptoCom’s native coin and Terra are the two most significant gainers from the larger-cap alts. LUNA has surged by 16.5% to a new all-time high of $100. CRO is up by 14% to above $0.6.
The top 100 coins have a new rep – Dogelon Mars. ELON has skyrocketed by 36% to $0.0000018.
More gains come from The Sandbox (23%), Arweave (20%), IoTeX (18%), SushiSwap (17%), ICP (16%), Decentraland (15%), Dash (15%), THORChain (13%), and others.
The crypto market cap is up by more than $100 billion in a day to just under $2.4 trillion.