Altcoin rallies in this cycle have corresponded with BTC surges. Since bitcoin has a last leg to go, Dan insists there is still hope for altcoins.
Following a dull weekend marked by a notable price dip to $103,000, bitcoin’s price has recovered some ground and reached $106,000 earlier today.
Most altcoins are with minor gains today, including HYPE, which has posted a 3% increase. XMR leads the larger-cap alts with a 6% surge.
BTC Aims at $106K
The all-time high registered on May 22 was followed by a violent correction on the following day when US President Trump warned that the EU might face another set of tariffs. Although the two parties reached some sort of an agreement and the tariffs were delayed for over a month, BTC failed to recapture its momentum and was stopped at $110,000 on a couple of occasions during the previous business week.
It continued to trade sideways until Friday evening, when Trump blamed China for violating their trade agreement. Beijing responded almost immediately, and bitcoin slumped by several grand. The culmination transpired on Saturday when BTC slipped to $103,100, which became a 12-day low.
However, it maintained that level on Sunday and even recovered some ground to around $104,000. During the Monday morning Asian trading session, BTC added a few more grand and tapped $106,000, where it faced some rejection and now sits about $500 lower.
Its market cap has risen to $2.1 trillion on CG, while its dominance over the altcoins is up to 61.5%.
XMR Pumps
Most altcoins have marked insignificant gains over the past 24 hours, such as XRP, BNB, SOL, DOGE, TRX, ADA, and SUI. HYPE stands out as the top performer from the largest 20 alts, while ETH has slipped inches below $2,500.
Monero’s native token has gained the most from the top 60 alts, as a 5.4% increase has pushed it to over $345. Other impressive performers include FLR, SPX, and FARTCOIN.
The total crypto market cap has increased by around $30 billion since yesterday and is up to $3.41 trillion on CG.
The post Bitcoin Price Recovery Begins With Jump to $106K as Monero Marks 5% Increase (Market Watch) appeared first on CryptoPotato.
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