BTC Rebounds Above $52K
After a slight dip over the weekend, Bitcoin (BTC) has bounced back and is now trading above $52,000. The past week has been particularly impressive for the primary cryptocurrency, with a surge of 13% and its biggest weekly gain since October.
The week started with a significant uptick that pushed BTC beyond $50,000. However, there was a brief retracement on Tuesday following the announcement of the latest CPI numbers by the US. BTC’s offensive returned later in the week, reaching $52,900 on Thursday before being pushed back down to $50,500 on Saturday.
Over the past 36 hours, BTC has gradually increased to just over $52,000. Its market capitalization remains above $1.020 trillion, but its dominance over altcoins has decreased to 49.2%.
ETH Hits 21-Month High
Ethereum (ETH) has been steadily increasing in value in recent weeks and has now reached its highest price in nearly two years at over $2,900. This surge may be due to the anticipation of the SEC approving spot Ethereum ETFs.
Other tokens related to the Ethereum ecosystem have also seen gains. MATIC is up by 5% and is close to $1, while OP has surged by 6% and is trading at $3.9.
Solana has reclaimed the $110 level with a 2.5% increase, while DOGE has risen above $0.086. On the other hand, BNB has retraced by over 1% and is currently priced at $350.
The total crypto market cap has increased by over $40 billion overnight and now stands above $2.080 trillion.
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