Bitcoin has once again reached the $70,000 mark after slipping below it yesterday, struggling to firmly break through during its recovery phase.
While Bitcoin made a significant move from around $64,000 to $66,000 over the weekend, it surged to $70,000 on Tuesday, kicking off the business week positively.
The bullish momentum drove BTC to nearly $72,000 on Wednesday, marking a new peak in 15 days. However, this peak was short-lived as the asset faced strong resistance and dropped to $68,400 shortly after.
Despite a subsequent recovery that brought it close to $72,000 again, Bitcoin faced another setback and dipped to $69,200 yesterday. Nevertheless, it has managed to reclaim most of its losses, currently hovering just above $70,000.
Bitcoin’s market capitalization is still around $20 billion shy of $1.4 trillion, with its dominance over alternative cryptocurrencies plateauing at 49.7% according to CoinGecko.
Meanwhile, Solana (SOL) has shown strength, inching closer to $200 once more, with a nearly 6% overnight gain. TON has also seen a similar increase, pushing its value well above $5.
Other cryptocurrencies like Ripple, Cardano, Avalanche, Polkadot, Chainlink, and Tron are also experiencing gains, albeit more modestly. Bitcoin Cash (BCH) continues its upward trend ahead of its second halving, now trading above $600.
On the flip side, Ethereum (ETH), Binance Coin (BNB), and meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have seen slight declines.
The overall crypto market cap has remained relatively stable, currently standing below $2.8 trillion.
