BTC Breaks $44,000 Barrier
After days of trading sideways around $43,000, Bitcoin has finally made a move and surged past $44,000 for the first time since January’s ETF-induced declines. Last week, BTC attempted to surpass the $44,000 mark but was unsuccessful. It experienced a setback after the US Federal Reserve announced no changes to its monetary policy. However, Bitcoin managed to recover and returned to $43,000 before remaining stagnant for several days.
Today, Bitcoin broke above $44,000, reaching a monthly high of $44,700. Its market capitalization now stands at $875 billion, and it maintains dominance over altcoins at 51.3% on CMC.
Altcoins See Green
While most altcoins remained stagnant in recent days, they have now turned green. Ethereum leads the way with a 2% increase, surpassing $2,400. Binance Coin also experienced a 4% daily jump and is now priced at $315.
Solana and Cardano have seen significant increases among larger-cap altcoins. SOL has risen by 6% and is above $100, while ADA has soared by 9% and trades above $0.5.
XRP, AVAX, DOGE, DOT, LINK, MATIC, and TON are also experiencing gains. As lower- and mid-cap altcoins charted positive movements in the past 24 hours, the total crypto market cap has increased by $60 billion to reach $1.710 trillion on CMC.
Hot Take: Bitcoin Surges Past $44K Mark After Sideways Trading
Bitcoin has broken through the $44K barrier after trading sideways for days around the $43K mark. This surge comes after several unsuccessful attempts last week, with Bitcoin experiencing a setback following the US Federal Reserve’s decision not to change its monetary policy. However, Bitcoin has rebounded and reached a monthly high of $44,700. Altcoins have also turned green, with Ethereum leading the way with a 2% increase and Binance Coin jumping by 4%. Solana and Cardano have seen significant gains among larger-cap altcoins. With lower- and mid-cap altcoins also charting gains, the total crypto market cap has added $60 billion overnight.
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