Crypto Markets Skyrocket by Almost $400B in Days as BTC Price Surges Past $103K (Weekend Watch)

Bitcoin’s recent price ascent took the asset to a new multi-month peak of over $104,000 where it faced some resistance and now sits above $103,000. Many altcoins continue to post impressive gains, with ETH standing well above $2,300, while DOGE has soared past $0.21. BTC’s Impressive Week If we roll back the clock to May 6, we will see that BTC’s price was just rejected at $98,000, and the asset had slipped back down to under $94,000. Although this $4,000 price drop might sound painful, a broader look would show that bitcoin has still added roughly $20,000 since the early April lows. Impressive, right? Well, the primary cryptocurrency wasn’t done yet, not by a long shot. It bounced off that support line, and it took about a day to fly past the coveted $100,000 line. As such, BTC stood within a six-digit price territory for the first time in over three months. The gains kept coming on Friday as bitcoin exploded to its highest price level since late January of over $104,000. It met some resistance there and was pushed south by a few grand, but that was short-lived. As of now, BTC stands well above $103,000 – a 7% weekly surge and a 26% monthly pump. Its market capitalization has risen to $2.050 trillion, while its dominance over the alts has taken a hit and is down to 60.5%, as many altcoins have registered mindblowing price increases. BTCUSD. Source: TradingView Alts With Big Gains Many altcoins have doubled down on yesterday’s price increases with massive gains today as well. ETH is among the leaders as another 6% surge has taken it to $2,350 where it faces a crucial resistance. Binance Coin, Solana, Avalanche, and Shiba Inu have marked similar pumps, while DOGE has risen by over 12% and now trades above $0.21. As a whole, the meme coins have posted the biggest gains, with PEPE and FARTCOIN leading the charts with substantial double-digit price increases. The total crypto market cap has surged to $3.4 trillion on CG. This means that the metric has added roughly $400 billion since May 6 . Cryptocurrency Market Overview. Source: QuantifyCrypto The post Crypto Markets Skyrocket by Almost $400B in Days as BTC Price Surges Past $103K (Weekend Watch) appeared first on CryptoPotato .

Source: Crypto Potato