Bitcoin’s price ascent continued in the past several hours as the asset soared past $110,500 for the first time in about two weeks.
Most altcoins are also well in the green on a daily scale, with ETH surging by 8% and HYPE nearing its all-time high.
BTC Shot Up to $110.5K
It was just five days ago when the primary cryptocurrency dumped hard following the escalating tension between U.S. President Donald Trump and Tesla’s CEO, Elon Musk. At the time, BTC plunged to a multi-week low of $100,400.
However, the bulls managed to defend that level and staged a quick recovery. Within a few days, BTC was back to its consolidation range between $104,000 and $106,000. It spent the weekend there as well, but started to climb hard on Monday and especially on Tuesday morning during the Asian trading session.
The culmination occurred hours ago when the asset skyrocketed to just over $110,500, marking its highest price tag in June and a two-week peak. Although it has lost some ground since then and now sits just above $109,000, BTC is still 3.5% up on the day.
Its market capitalization has risen to $2.170 trillion on CG, while its dominance over the alts stands tall above 61%.
Alts Back in Green
HYPE has risen by double digits and has neared its all-time high set less than a month ago. A 12% daily surge has turned it into the best performer from the larger-cap alts.
Next in line from this cohort of assets are LINK, SUI, AVAX, SOL, and DOGE. Ethereum has also notched an impressive surge, gaining almost 8% and trading close to $2,800.
The biggest gainers from the top 100 alts are Fartcoin (18%), dogwifhat (16%), UNI (15%), AAVE (14.4%), and TAO (13%).
The total crypto market cap has added around $60 billion in a day and is up to $3.535 trillion on CG.
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