Bitcoin’s rather impressive and unexpected weekend recovery run has continued as the asset exceeded $70,000 earlier today and hasn’t looked back since.
Many altcoins have produced even more notable gains, including XRP and DOGE, both of which have skyrocketed by double digits. PEPE and PI joined that club.
BTC Taps $70K
It was just over a week ago – February 6, when the primary cryptocurrency’s crash culminated in a nosedive to $60,000. This became its lowest price tag in well over a year after a $30,000 drop in the span of approximately 10 days.
The bulls finally woke up at this point and didn’t allow another decline to the sub-$60,000 levels. Just the opposite, BTC exploded by $12,000 within a day and surged to $72,000, which turned out to be too strong a resistance.
The following few days were sluggish, with bitcoin trading between $68,000 and $72,000. The mid-week rejection at the upper boundary resulted in more pain, as the asset fell to $66,000 on Friday. However, it rebounded strongly in the following days, climbed to $69,000 on Saturday and to $70,800 on Sunday. It faced some resistance there, but still trades above $70,000 as of press time.
Its market capitalization has risen to $1.410 trillion on CG, while its dominance over the alts has decreased slightly to 56.5%.
PI, XRP, DOGE on the Run
While some larger-cap altcoins, such as ETH, BNB, and TRX, have remained sluggish on a daily scale, others, such as XRP and DOGE, have gone on a tear. The OG meme coin has gained 18% daily, perhaps driven by an announcement by Elon Musk, and now sits around $0.115. XRP has reclaimed the $1.60 resistance after an 11% pump.
ADA, ZEC, and XLM are also in the green from the larger caps, while PEPE has soared by 25%. Pi Network’s native token became the top performer in the crypto markets today, surging by over 35% at one point to over $0.20. Although it has lost some traction since then, it’s still up by 20%.
The total crypto market cap has added another $40 billion daily and is close to $2.5 trillion on CG.
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