Bitcoin (BTC) Breaks Back Above $95,000, Ethereum (ETH) Hits 6-Month High (Market Watch)

After underperforming for a few days, Bitcoin (BTC) is back on the green track, posting a substantial price increase on the 24-hour scale.

Leading altcoins including Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Ripple (XRP) and more have also posted significant gains.

BTC is back on the offensive

The major cryptocurrency behaved rather shakily towards the end of the weekend and the beginning of this week, with its valuation briefly dipping below $91,000 on November 26. However, the bulls intervened in the last 24 hours, pushing BTC up to $97,300 (according to CoinGecko data).

Soon after, the price turned south, reaching the current $95,300. This represents a 2% increase on a daily basis and a solid 35% month-on-month increase.

BTC Price, Source: CoinGecko

BTC’s latest resurgence comes on the back of increased US consumer spending and the inflation rate remaining above the Federal Reserve’s 2% target. It will be interesting to see the central bank’s reaction to this development and whether it will affect the price of the leading digital asset.

Meanwhile, BTC’s market cap has risen to nearly $1.9 trillion, while its dominance over altcoins is around 57%.

ETH leads the Altcoin charge

Some well-known altcoins have witnessed even bigger bombs than the market leader. Ethereum (ETH), for example, hit a six-month high of nearly $3,700 amid increased spot inflows of Ether ETFs in the United States.

Binance Coin (BNB) and Cardano (ADA) are also among the winners, posting daily peaks of 5% and 4%. Other altcoins in green territory include Ripple (XRP), Shiba Inu (SHIB), Dogecoin (DOGE) and many more. Interestingly, Stellar (XLM), which has been one of the leaders in recent days, is one of the few to see a small decline today (November 28).

The total market capitalization of the cryptocurrency sector currently stands at $3.46 trillion, representing a jump of 1.5% since November 27th.

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