Bitcoin Jumps to US$ 67K with BTC Miners Rising 5% to 10%; XRP Leads Altcoins

The digital asset market saw a quick reversal on Monday, with bitcoin {{BTC}} erasing an initial decline to nearly US$ 65,000 and returning to the US$ 67,000 level over the three-day period.

The US$ 65,000 area was the same level from which bitcoin bounced during last Friday's big frenzy. At press time, it was trading at US$ 66,800, up 0.9% in the last 24 hours.

Most altcoins also recovered but lagged BTC on the daily time frame. Ether {{ETH}} was still in the red with a 0.7% decline during the same period, while dogecoin {{DOGE}}, shiba inu {{SHIB}} and layer-1 network native tokens Avalanche {{AVAX }} and Near {{NEAR}} fell 2%-5%.

Ripple's XRP {{XRP}} has outperformed most major cryptocurrencies with its 5% daily gain and was recently the only cryptocurrency - other than BTC - on the broad-market crypto benchmark CoinDesk 20 Index with a positive daily performance . Several smaller, publicly traded bitcoin miners have seen double-digit gains. Hive Digital Technologies (HIVE), TeraWulf (WULF), Canaan (CAN) rose 10%-20% during the day, while large-cap miners Marathon Digital (MARA) and Riot Platforms (RIOT) rose 4%.

Moving away from traditional markets, the broad-market S&P 500 and technology-based Nasdaq 100 continued to rise to new all-time highs and were up 0.9% and 1.2%, respectively.

Read more: See why Bitcoin isn't keeping pace with the Nasdaq

Bitcoin has been swinging sideways in a narrow range below its all-time high prices since March, eliminating excess leverage in liquidation cascades and certainly causing some impatience on the part of market participants, especially the number-pushing crowd.