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.
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