The cryptocurrency market has once again surpassed the $2.4 trillion mark, showcasing a vibrant recovery after a period of stagnation over the weekend. Bitcoin experienced a notable surge on Monday morning, reaching a high of nearly $63,000 after hovering around $61,000 with minimal changes. This jump marks a significant recovery from its recent fluctuations, where it had previously peaked at $65,500 before facing resistance and dropping to around $60,800. Despite these challenges, Bitcoin managed to climb back, indicating a bullish momentum as it inches closer to $63,000, with its market cap nearing $1.250 trillion.
Altcoins have also seen a positive shift, with meme coins such as PEPE and FLOKI leading the charge with impressive gains of around 20% and 13% respectively. DOGE, WIF, BONK and SHIB are all amongst the top gainers for the day. TONcoin’s price hit $7.3 for a gain of 5% on the day. Other notable mentions include Bitcoin Cash and SOL, both of which have risen by 3%, although some, like PENDLE, IMX, and RBN, have faced declines.
Ethereum (ETH), despite a 2% increase, has struggled to break the $3,000 mark, and Binance Coin (BNB) is on the verge of reaching $600 with a 1% gain. The overall market cap has seen a substantial addition of about $40 billion, reflecting the renewed investor interest and market optimism.
Bitcoin’s dominance over altcoins has slightly increased, accounting for just over 53.8% of the total market cap, as per CG.
