It was difficult to imagine, after the developments that took place in the middle of the week, what would transpire on Friday, but BTC’s price somehow skyrocketed past $81,000 for the first time in half a month.
The altcoins have also turned green today, with ETH reclaiming $2,600, XRP bouncing above $1.40, and SOL rocketing past $110.
BTC Flies Above $81K
After the heightened volatility on the previous Friday following the release of the US CPI Data, bitcoin’s price calmed over the weekend at around $77,000. All eyes turned to the subsequent business week, which was expected to be a big one.
The first major event took place on Tuesday when the CLARITY Act was scheduled to be voted on in the US Senate. The vote didn’t go well, and the Senate rejected advancing the key bill. The largest cryptocurrency reacted with an immediate leg down that drove it to $75,000. More fluctuations ensued a day later when the US Federal Reserve hiked the rates for the first time in over three years, and BTC went down but then back up to $76,500 within minutes.
The bulls started to reemerge at this point and didn’t allow bitcoin to slip any further. In fact, the cryptocurrency jumped to $78,000 on Friday morning and then initiated a massive leg up during US trading hours, jumping past $80,000 and $81,000 for the first time in two weeks.
Unlike the previous such run, though, this one was maintained over the weekend as well, at least for now, and BTC now sits above $81,000 after a negative macro week. Its market cap is up to $1.630 trillion, while its dominance over the alts remains at 58.7% on CMC.
Alts See Green
Ethereum is up by 5% daily and has reclaimed the $2,600 level, which was tested earlier this month. XRP has jumped past $1.40 after a 6.4% increase, while SOL is above $110 now after a 5.4% pump. Impressive gains are also evident from the likes of XMR, RAIN, ZEC, LINK, TAO, AAVE, and SUI.
The double-digit price pump club consists of ENA, AVAX, MORPHO, SKY, INJ, PIEVERSE, and a few others. In contrast, BTW has slumped by over 9% and now sits below $0.60.
The cumulative market cap of all crypto assets has increased by $150 billion in a day and is up to $2.780 trillion on CMC.
The post Crypto Market Cap Adds $150B Daily as Bitcoin (BTC) Soars Past $81K: Weekend Watch appeared first on CryptoPotato.
