Bitcoin’s positive price actions on Friday evening continued in the past 12 hours or so and the asset touched $65,000 for the first time since August 3.
Several altcoins have produced impressive gains as well within the same timeframe, with SATS surging by 25%, followed by FET (19%), and SUI (15%).
BTC on the $65K Road
The end of this business week was quite different than the previous one when BTC slumped to $56,000 on Thursday but managed to recover some ground on Friday and during the weekend. However, Monday started with another retracement when the asset slumped from $60,000 to $58,000.
The bulls managed to intervene and prevent any further declines, but the rest of the week, at least until Friday evening, was quite uneventful . That’s when positive news from the US emerged, including Fed Chair Jerome Powell’s promise to start cutting the interest rates, and BTC went on the run .
In a matter of hours, the asset went from just over $60,000 to $64,000. After a minor correction, it went on the offensive once again and jumped to $65,000 for the first time in over three weeks.
Despite retracing by around $800 since then, BTC is still 5% up on the day and sits above $64,000. Its market cap has soared to $1.270 trillion, and its dominance over the altcoins is up to 53.8%.
SOL, SHIB Rise
Most altcoins are in the green today as well. Ethereum has surged by over 3% in the past 24 hours and sits above $2,760. Ripple, Toncoin, Dogecoin, Tron, Cardano, Avalanche, Bitcoin Cash, and Polkadot are also with gains of up to 5%.
Solana and Shiba Inu are the best performers from the larger-cap alts. Both assets are up by about 6%, which has helped SOL rise to over $150, while SHIB is up to $0.000015.
Further gains from the top 100 alts come from SATS (25%), FET (19%), SUI (15%), WIF (15%), SEI (13%), and PEPE (12%).
The total crypto market cap has added around $100 billion since yesterday and is up to $2.360 trillion.
