Bitcoin Hits New Monthly Peak at $48,600
Bitcoin continues its upward trend, reaching a new monthly high of $48,600. The altcoins are also experiencing positive movement, resulting in the total market cap surpassing $1.8 trillion.
BTC’s Recent Performance
After a period of consolidation around $43,000, Bitcoin’s price began to rise on Wednesday. The bulls took control and pushed the cryptocurrency above $47,000 by the end of the week. Over the weekend, Bitcoin attempted to break through $48,000 and eventually reached $48,600 today, its highest point in a month.
Bitcoin’s market capitalization is approaching $950 billion, and its dominance over other cryptocurrencies is above 52%.
LINK Surges
Most altcoins are also experiencing gains. Ethereum has reclaimed the $2,500 level, while BNB, SOL, XRP, DOGE, TRX, and DOT have seen gains of around 1-2%. Cardano has added 4% in value, and AVAX and BC are up by 5% and 8% respectively.
The standout performer among the larger-cap altcoins is Chainlink (LINK), which has surged by 11% and is trading above $20 for the first time in years. Other notable gainers include BEAM (23%) and Ronin (14%). As a result, the total crypto market cap has increased by about $30 billion overnight to reach a local peak of $1.810 trillion.
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