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It seems like a repeat these days, but Bitcoin’s bull run continues as the asset soared to a new 26-month peak of $64,000 before it faced a real rollercoaster.
Many altcoins have turned green as well, with SOL shooting up by 18%, and the total crypto market cap has neared $2.5 trillion for the first time in over two years.
BTC’s Run Endures
What more can we say about the ongoing price surge for Bitcoin? The asset had stalled at around $51,000 during the weekend after a few unsuccessful attempts to overcome $52,000.
However, Monday began with a bang, and the cryptocurrency spiked by more than two grand in minutes. Another leg-up followed, and then one more that pushed BTC to $57,000 by the end of the day and on Tuesday.
It didn’t take long before the bulls pressed the gas pedal once again and propelled another surge that drove BTC to $60,000. While that line was a bit harder to reclaim, Bitcoin did so yesterday and soared all the way to $64,000 for the first time since late 2021.
A violent rejection followed that brought it down to $59,000 in minutes before the bulls stepped up once again and recovered most losses. As of now, the cryptocurrency stands above $62,000, and its market capitalization has increased to $1.240 trillion, placing it among the top ten largest financial assets.
Its dominance over the altcoins has also been on the rise lately, gaining nearly 3% in less than a week.
Meme Coins Explode
The alternative coins have also followed BTC on the way up, with some more than others. Solana, Avalanche, and Toncoin have emerged as the top non-meme coin gainers from the larger-cap alts. SOL has reclaimed the $130 level after an 18% surge, while AVAX is well above $43 following a 10% increase. TON sits at $2.6 after gaining 21% on the day.
However, today belongs to the meme coins, with the two-largest skyrocketing by around 28-30%. DOGE has soared past $0.12, while SHIB is up to $0.000014.
You can check other meme coins that charted impressive gains and even ATHs here.
The total crypto market cap has gained another 8% overnight and now sits close to $2.5 trillion for the first time in over two years.
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Cryptocurrency charts by TradingView.
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