Bitcoin’s price kept pushing higher in the past 24 hours, which culminated in tapping a two-week peak at just over $26,800.
The altcoins are also slightly in the green, with BC, VET, AXS, and THOR emerging as today’s top performers.
BTC to Challenge $27K?
Bitcoin, alongside the rest of the market, slumped hard on Monday. After several days of trading sideways at just under $26,000, the asset lost about a grand and dumped to a two-month low.
However, the bulls managed to defend that level and quickly took control. In a matter of hours, the cryptocurrency had regained all of its lost value and even spiked above $26,000 more decisively than before.
There were concerns about enhanced volatility on Wednesday when the US CPI numbers came out, especially since they were slightly higher than expected. That wasn’t the case, though, and BTC maintained $26,000.
Bitcoin has even climbed higher since then and, earlier today, went close to $27,000 for the first time since August 31. Nevertheless, the asset has been unable to breach that level yet and stands a few hundred dollars below it now.
Its market capitalization has neared $520 billion, while its dominance over the alts stands above 49%.
BTCUSD. Source: TradingView## Alts That Performed Better
The altcoins are also slightly in the green today. Ethereum, Binance Coin, and Dogecoin are with gains of up to 1%, while Cardano, Solana, Polkadot, Polygon, Litecoin, and Shiba Inu have spiked by 2%.
Ripple, Tron, and Toncoin have soared by 3-4%. As such, XRP is close to $0.5, TRX is above $0.08, and TON trades at $1.95.
Even more impressive gains come from the likes of Bitcoin Cash, VeChain, and Axie Infinity. BCH is up by more than 8%, VET by 5%, while AXS has soared by over 10%.
As such, the total crypto market cap currently exceeds $1.050 trillion. This means that the metric has added over $50 billion in the past five days.
Cryptocurrency Market Overview. Source: Quantify Crypto
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