Crypto Market Cap Reclaims $2 Trillion as Bitcoin Touched $45K (Weekend Watch)

Bitcoin kept climbing yesterday and registered a new three-week high at just over $45,000. On a daily scale, though, most alternative coins have lost some traction, but the crypto market cap has reclaimed the coveted $2 trillion mark.

Bitcoin Touched $45K

Bitcoin’s price trajectory in the past several days has been predominately upward. The asset scared the bulls on Monday that it could dip below $40,000 for the first time in a week, but they regained control over the market and pushed BTC north.

As a result, bitcoin jumped by several thousand dollars and soared above $43,000. After a brief retracement in the following 24 hours, BTC went back on the offensive and reclaimed $44,000, as reported yesterday.

The uptrend continued in the past 24 hours, and the cryptocurrency reached and briefly exceeded $45,000. This became its highest price tag since March 2nd.

As of now, BTC trades around $44,500, but its dominance over the altcoins has increased slightly to just over 42%. Its market capitalization has neared $850 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts See Minor Losses

The alternative coins have largely mimicked BTC’s performance as of late, including yesterday’s price appreciations. Today, though, most have either stalled or charted slight declines.

Ethereum is among those with a minor decrease, but the second-largest crypto remains above $3,100. Binance Coin, Ripple, Cardano, Dogecoin, Avalanche, Dogecoin, and Shiba Inu have produced similar price movements.

Solana and Terra have lost slightly more value in a day, but SOL is still above $100, while LUNA has remained north of $90.

CRO is among the most substantial losers, with a 7% daily decline. Nevertheless, the asset still stands above $0.4.

The predominantly positive market movements in the past week or so helped the cumulative market cap of all crypto assets to surge to $2 trillion for the first time in over a month.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Similar Posts

Leave a Reply

Your email address will not be published.