Bitcoin (BTC) Price Rises Above $57,000, Dogecoin (DOGE) Up 6% Daily (Market Watch)

After plummeting to below $53,000 on Friday, bitcoin’s reaction was quite positive as it has added over four thousand since then and sits above $57,000 now.

Most altcoins have also posted some gains over the past day, with DOGE above $0.1 after a 7% increase.

BTC touched $58,000 briefly

As mentioned above, the past week did not go well for the mainstream cryptocurrency, perhaps driven by massive exits from local Bitcoin ETFs in the United States. In a five-day span, BTC went from above $59,000 to below $53,000 on Friday, hitting a monthly low at the time.

However, the bulls finally rallied at this point and did not allow a further break towards $50,000 as predicted by Arthur Hayes. In stark contrast, bitcoin regained some ground and was mostly above $54,000 over the weekend.

Monday started with a rise above $55,000, a minor pullback and another more impressive rally in the evening to a 5-day high above $58,000.

However, the asset did not stay there and has been reduced by around a million since then. However, its market cap has soared to $1.130 trillion, while its dominance of the highs is up 0.4% daily to 53.7% at CG.

Bitcoin/Price/Chart 10.09.2024. Source: TradingView DOGE on a Roll

Most altcoins have also continued to post minor gains on a daily basis. Ethereum has climbed above $2,350 after a 1.4% increase, while BNB has hit $520 after a 2.5% increase. SOL is nearing $135 after gaining 3.7%. Similar increases of TON, BCH and NEAR.

Dogecoin has become the current best performer. DOGE is up over 6% and now sits above $0.1.

The most impressive gains came from the likes of FET (10%), KAS (7.5%), PEPe (8%), STX (7.5%) and RNDR (5%).

The total crypto market capitalization has added over $50 billion overnight and is now over $2.1 trillion in CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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