Crypto Markets Add $70B Daily As Bitcoin (BTC) Soars To 16-Day High (Weekend Watch)

Bitcoin’s price rally continued over the past 24 hours as the asset breached $60,000 and hit a multi-week high of over $60,500.

Altcoins are also in the green, pushing the total crypto market cap by over $70 billion since yesterday.

BTC touched $60.5 thousand

After last Friday’s correction that took BTC to $52,500, the asset regained some ground over the weekend, but went on the offensive hard on Monday, gaining four thousand in 24 hours and briefly surpassing the $58,000. Mid-week price action was quite volatile, especially after the US CPI numbers came out on Wednesday and bitcoin saw several highs and lows.

However, the bulls seemed to have taken control of the market. On Friday they started another stage that caused BTC to approach $60,000. Although it failed early on, the cryptocurrency broke through this level this morning and hit a 16-day high of just over $60,500.

This followed the trend reversal in local US Bitcoin ETFs, as they turned the tables with over $400 million in net outflows over the past week. Additionally, MicroStrategy announced another massive BTC purchase worth over $1.1 billion.

BTC has lost some traction so far, but is still up 4% on the day. Its market capitalization has risen to $1.185 trillion, while its dominance of the highs is above 54% in CG.

Bitcoin/Price/Chart 14.09.2024. Source: TradingView Alts See Green

Most altcoins have followed BTC on the rise. ETH and BNB have each gained around 2% and are now above $2,400 and $550 respectively.

Even more impressive increases come from DOGE (4%), TON (4%), AVAX (3%), LINK (5%), PEPE (6%), TAO (10%) and IMX (5%). ). TRX is among the few altcoins with minor pullbacks over the past day.

The cumulative market capitalization of all crypto assets has added about $70 billion since yesterday and now stands at $2.2 trillion.

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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