Rewrite the
Bitcoin’s recent price ascent took the asset to a new multi-month peak of over $104,000 where it faced some resistance and now sits above $103,000.
Many altcoins continue to post impressive gains, with ETH standing well above $2,300, while DOGE has soared past $0.21.
BTC’s Impressive Week
If we roll back the clock to May 6, we will see that BTC’s price was just rejected at $98,000, and the asset had slipped back down to under $94,000. Although this $4,000 price drop might sound painful, a broader look would show that bitcoin has still added roughly $20,000 since the early April lows. Impressive, right?
Well, the primary cryptocurrency wasn’t done yet, not by a long shot. It bounced off that support line, and it took about a day to fly past the coveted $100,000 line. As such, BTC stood within a six-digit price territory for the first time in over three months.
The gains kept coming on Friday as bitcoin exploded to its highest price level since late January of over $104,000. It met some resistance there and was pushed south by a few grand, but that was short-lived. As of now, BTC stands well above $103,000 – a 7% weekly surge and a 26% monthly pump.
Its market capitalization has risen to $2.050 trillion, while its dominance over the alts has taken a hit and is down to 60.5%, as many altcoins have registered mindblowing price increases.
Alts With Big Gains
Many altcoins have doubled down on yesterday’s price increases with massive gains today as well. ETH is among the leaders as another 6% surge has taken it to $2,350 where it faces a crucial resistance.
Binance Coin, Solana, Avalanche, and Shiba Inu have marked similar pumps, while DOGE has risen by over 12% and now trades above $0.21.
As a whole, the meme coins have posted the biggest gains, with PEPE and FARTCOIN leading the charts with substantial double-digit price increases.
The total crypto market cap has surged to $3.4 trillion on CG. This means that the metric has added roughly $400 billion since May 6.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
in well organized HTML format with all tags properly closed. Create appropriate headings and subheadings to organize the content. Ensure the rewritten content is approximately 1500 words. Do not include the title and images. please do not add any introductory text in start and any Note in the end explaining about what you have done or how you done it .i am directly publishing the output as article so please only give me rewritten content. At the end of the content, include a “Conclusion” section and a well-formatted “FAQs” section.
