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Bitcoin’s positive price moves that started a few days ago continued in the past 12 hours or so as the asset tapped $89,000 for the first time in well over a month.
In contrast, most larger-cap alts have fallen behind, which has further increased BTC’s overall market dominance.
BTC to Aim at $90K Soon?
The primary cryptocurrency’s price felt the adverse consequences of Trump’s trade war a couple of weeks back, when it plunged to a multi-month low beneath $75,000. However, the subsequent tariff pause, as well as the positive inflation data for March in the US, started an immediate recovery that continues to this day.
By the end of that week, BTC had already reclaimed the $80,000 level and hasn’t looked back since. Moreover, it kept climbing gradually and spiked above $86,000 on a few occasions last week. It failed there at first and, after a quiet weekend, went on the offensive once again on Monday when it spiked by over three grand from $84,000 to $87,500.
It was stopped there at first, but the bulls pushed hard, and bitcoin tapped $88,950 (on Bitstamp) for the first time since early March.
As of now, it remains inches below that level, but the bullish predictions in the community have reemerged. Its market cap has grown to $1.755 trillion on CG, and its dominance over the alts continues to mark new local peaks.
FARTCOIN Keeps Pumping
As mentioned above, most larger-cap alts have failed to mimic BTC’s gains over the past day, with ETH, XRP, SOL, LEO, ADA, LINK, AVAX, and XLM actually charting some losses.
In contrast, BNB, DOGE, TRX, and SUI are slightly in the green. FARTCOIN has stolen the show once again, exploding by 16% and surging past $1. Moreover, it has become the fifth-largest meme coin by market cap, surpassing BONK.
The total crypto market cap has remained relatively stable at just over $2.860 trillion on CG.
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Cryptocurrency charts by TradingView.
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