Bitcoin Briefly Above $58K, ETH & BNB Hit New All-Time-Highs
The crypto market cap added $170 billion in two days as bitcoin surged above $58K for a moment, then stabilizing around $57.5K. BNB and ETH marked new all-time-high records.
After several days of consolidation around and beneath $55,000, bitcoin finally made a move and briefly jumped above $58,000. Despite new all-time-high records for Ethereum and Binance Coin, BTC managed to reclaim some of its recently lost market dominance.
Bitcoin Correction Adds $6K in Two Days
While the altcoin market has shown nice price pumps lately, bitcoin seemed stalled at best so to say. The number one cryptocurrency had recovered from its April slumps that drove it below $50,000 but had been unable to increase any higher than $55,000.
The bears used Bitcoin’s inability to breakout and pushed it down again to about $52,000 on 29 April. Since then, though, the trend has reversed, and BTC recovered a couple thousand dollars in hours.
Consequently, the asset traded around $54,000 before it finally made a seeable move upwards. In just dew hours, the cryptocurrency surged by about $4,500 and reached its highest price tag since the market crash on 18 April.
On its way up, bitcoin’s market cap solidified its position well above $1 trillion. Additionally, Bitcoin recovered roughly 1% of its recently lost market dominance which is now up to 49%.
Most altcoins have been on a roll lately, perhaps none more impressive than the second-largest cryptocurrency Ethereum. ETH has marked consecutive new records in the past week or so, and it doubled down on this tradition.
In the past 24 hours, ETH spiked to its latest ATH of just over $2,870 (on Bitstamp). Similar development befell the third-largest crypto – Binance Coin. BNB flirted with $600 yesterday but jumped with over $40 in hours to a new record of about $645 (on Binance).
Ripple (4%), Polkadot (1.5%), and Bitcoin Cash (12%) are also in the green from the top ten. Nevertheless, Dogecoin is the most impressive performer with a 15% surge. As a result, DOGE trades north of $0.35.
