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Bitcoin’s price dumped to under $69,000 yesterday, but the bulls quickly intercepted the move and initiated another leg up that resulted in yet another new all-time high.
Several altcoins are also well in the green today, led by $TON, $AVAX, DOT, NEAR, and $BNB.
$BTC’s Latest $ATH Came After Retracement
It was a little over a week ago when Bitcoin had calmed at around $61,000-$62,000. However, that all changed on Monday when the asset blew past the latter and shot up to almost $69,000. A day later, that 2021 $ATH fell, and $BTC charted a new one at $69,300.
A massive rejection followed, pushing the cryptocurrency south by about ten grand. Yet, the bulls helped $BTC recover almost all losses, and Bitcoin was back at it again by Friday when it pumped above $70,000 for the first time ever.
Another rejection came, but this time, it was less violent. After a relatively quiet weekend, Bitcoin began to climb this Monday as well and soared to a fresh $ATH of almost $73,000. The scenario repeated yesterday when the bears drove it south once again to a multi-day low of under $69,000.
However, $BTC is evidently on a bull run, and this retracement didn’t last long. Just the opposite, the asset started gaining traction and soared to $73,600 to chart its latest $ATH.
Its market capitalization has increased to $1.450 trillion, and its dominance over the alts sits close to 50%.
Alts on the Run, too
Ethereum has bounced off as well following yesterday’s drop and is now back above $4,000. Binance Coin is among the best performers from the top 10, having surged by more than 7%. As a result, $BNB is close to $575.
Avalanche and Toncoin have jumped the most from the top 36 crypto assets. $AVAX is up by 13% and trades well above $50, while $TON has soared to well over $4.
With most other lower- and mid-cap alts trading well in the green, the total crypto market cap has gained over $70 billion overnight and is above $2.9 trillion for the first time in over two years.
