These Altcoins Rocket After Weekend Correction as BTC Reclaims $114K: Market Watch
Bitcoin’s gradual price recovery that started on Sunday continued in the following hours, as the asset now trades well above $114,000.
Many altcoins have posted even more impressive gains, such as HASH, ENA, and XLM – all of which are up by double digits.
BTC Aims at $115K
Bitcoin began the previous business week inside a familiar trading range between $117,000 and $119,000. It went through some volatility on Wednesday evening after the US Federal Reserve concluded its latest FOMC meeting for the year and said it won’t change the key interest rates.
The actual fluctuations, though, transpired in the following days. BTC had rebounded to $119,000 on Thursday morning, but propelled by Trump’s latest tariffs and subsequent nuclear submarine movement in response to Russian actions, the asset started to nosedive.
The culmination arrived on Saturday evening when bitcoin slumped to just under $112,000 for the first time in just over two weeks. The bulls finally reemerged at this point and didn’t allow another breakdown to take place.
Instead, BTC started to recover some ground gradually and jumped to $115,000 earlier today, where it faced some resistance and is now just inches below that level. Its market cap has climbed to $2.280 trillion on CG, while its dominance has settled at 60%. Nevertheless, more volatility due to macro reasons is expected later this week.
Alts on the Rebound
Most altcoins took the recent correction worse than BTC, which is to be expected. Ethereum, for instance, went from roughly $3,900 to around $3,400. Now, though, it trades above $3,550 after a 3% daily jump.
XRP dumped below the crucial support at $3 to a multi-week low of $2.72. However, it has recovered a lot of ground and is now retesting $3. BNB, SOL, TRX, DOGE, ADA, SUI, and LINK are also in the green from the larger-cap alts.
XLM has stolen the show from this cohort of alts, with a massive 9.5% surge to over $0.41. ENA and HASH have rocketed by similar percentages.
The total crypto market cap has added $60 billion since yesterday and is up to $3.8 trillion on CG.
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