Crypto Market on the Rise Again
After several days of declines, the crypto markets are rebounding. Bitcoin has surpassed the $100,000 mark, briefly reaching $102,000, contributing to a $200 billion increase in the total cryptocurrency market capitalization, which now exceeds $3.8 trillion.
Bitcoin Hits $102,000
After weekend struggles to break into six figures, Bitcoin began the week with further declines, dropping to $94,400. However, the support level held firm, and Bitcoin surged in value.
On Wednesday, the cryptocurrency spiked nearly $8,000, reaching $102,000 twice. Although it has yet to break through this level, BTC remains above $100,000, marking its longest stint in six-figure territory.
Bitcoin’s market capitalization is nearing $2 trillion, though its dominance has slightly dipped to 52.3%.
Altcoins See Significant Gains
Altcoins, which faced losses earlier in the week, are experiencing rapid recovery. Several posted double-digit gains:
AAVE: +32%
HYPE: +29%
SUI: +26%
LINK: +23%
BEAM: +21%
UNI: +19%
ENA: +17%
APT: +17%
Among major altcoins, ETH rose by 5.5%, XRP by 1.7%, BNB by 4.2%, and DOGE by 3%. ADA and TRX joined the notable gainers, with increases of 12.5% and 10%, respectively.
Market Capitalization Sees Significant Growth
The cumulative cryptocurrency market capitalization increased by over $200 billion within 24 hours on December 12, surpassing $3.8 trillion. This growth signifies strong recovery and bullish sentiment in the market.
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