After a few days of trading sideways at around the $36,500 level, bitcoin finally went on the offensive hours ago and spiked above $37,000.
Most altcoins are also with minor gains today, with Ethereum reclaiming $2,000 after dumping below that level at the end of last week.
BTC Back Above $37K
The primary cryptocurrency dumped hard on Wednesday – Nov 15 – when the bears appeared to have complete control over the market and pushed it south to a weekly low of $35,000. However, the bulls didn’t give up and resumed the recent rally within the next 24 hours.
In one of the most notable daily price pumps in a while, BTC added roughly $3,000 and shot up to $38,000 for the second time within a week.
Just like the previous attempt, though, this one was quite unsuccessful and bitcoin was quickly driven back down to under $36,000. The following few days were calmer, with BTC trading sideways in a range between $36,000 and $36,500.
The early Monday trading session started on a more positive note, with bitcoin jumping to $37,500. Although the asset has lost some traction since then, it still stands above $37,000 as of now.
Its market capitalization has jumped to nearly $730 billion, while its dominance over the alts stands still at over 51%.
NEAR on the Run
It’s safe to say that Near Protocol’s native token has been the top performer in the past 24 hours from the larger-cap alts. NEAR has soared by more almost 20% and trades well above $2.1.
Chainlink, Aptos, IMX, HBAR, and LDO follow suit, with gains of up to 8%. ETH, ADA, MATIC, DOT, XRP, BNB, DOGE, TRX, AVAX, and LTC are also in the green but in a more modest fashion.
SOL is the only top 10 altcoin in the red today. The asset has retraced by 2.5% in a day and sits at $60 as of now.
The total crypto market cap has added around $20 billion in a day and has reclaimed the $1.4 trillion level on CMC.
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