Bitcoin’s gradual price recovery continued as the asset jumped past $110,000 for the first time since Friday, when it was violently rejected.
Most altcoins have failed to produce any gains over the past day, including CRO, which continues its substantial correction following the recent mind-blowing rally.
BTC Eyes $111K
It’s been a tough few weeks for the primary cryptocurrency. The asset peaked at over $124,000 on August 14, but it has been mostly downhill since then. By August 22, it had lost over $12,000 of value before it soared to $117,500 after Jerome Powell’s speech at Jackson Hole.
However, that was a short-lived rally that was followed by more retracements. Last week, bitcoin dumped below $109,000 for the first time since early July. After another unsuccessful recovery attempt, the bears initiated one more leg down at the start of the current business week that pushed the cryptocurrency to a two-month low of just over $107,000.
The bulls finally reemerged at this point and didn’t allow a further breakdown toward $100,000. BTC bounced off and jumped past $109,000 yesterday and up to $110,500 as of now. Its market cap has neared the $2.2 trillion milestone, while its dominance over the altcoins has remained steady above 56%.
New Top 100 Rep
Red continues to dominate the altcoins’ charts. Ethereum has slipped below $4,400 after a 1.8% daily decline. XRP stands at $2.8 following a minor drop, while DOGE has declined by over 2.5% and sits at $0.213. BNB, TRX, ADA, LINK, HYPE, and SUI are also in the red.
CRO has lost another 4-5% of value in the past 24 hours. The asset has dropped by more than 30% since its local peak at $0.38 marked last week. In contrast, ENA has rocketed by 8% to $0.7.
MemeCore has entered the top 100 alts by market cap after a massive 30% daily surge that has pushed its price to over $0.82.
The total crypto market cap has added around $30 billion since yesterday and now sits at just over $3.9 trillion on CG.
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Cryptocurrency charts by TradingView.
