BTC Eyes $92K Amidst Market Recovery
After a week of trading below the $90,000 mark, which included a nosedive to under $81,000, bitcoin finally notched an impressive recovery attempt that pushed it to just under $92,000. Its dominance over altcoins has surged as well, as very few are able to match its gains over the past 24 hours.
The primary cryptocurrency’s most severe part of its November correction took place last week when the bears were in complete control of the market and drove it south to under $81,000 on Friday. This became its lowest price point in approximately seven months and meant that BTC had lost over $25,000 in just ten days.
The bulls finally stepped up at this point and didn’t allow another breakdown to under $80,000. Just the opposite: bitcoin bounced to $84,000 over the weekend and began climbing higher as the new business week progressed. Nevertheless, it was stopped on a couple of occasions at $88,000 and $89,000.
The actual breakthrough took place last night when BTC finally surged past the coveted $90,000 mark. It continued its rally on Thursday by nearing $92,000 to mark a weekly high.
Its market capitalization has soared to $1.830 trillion on CG, while its dominance over the alcoins has increased to more than 57% as of press time after dumping below 56.5% a few days ago.
Altcoins See Gains as Market Cap Reclaims $3.2 Trillion
Most altcoins are also in the green, but only a handful have posted more impressive gains than BTC. Ethereum has jumped by over 4% and now sits above $3,000. XRP is back to $2.20, while BNB, SOL, HYPE, LINK, and ADA have gained around 3-4% daily.
AVAX and MNT are the top performers from the larger caps, surging by more than 6.5% each. KAS has skyrocketed by 21%, followed by FLR (11%) and SKY (10%).
The total crypto market cap has added over $130 billion in a day and has reclaimed the $3.2 trillion mark on CG.
