After the massive volatility that hit the market in the past few days, Bitcoin has finally started to show signs of revival by surging toward $80,000 earlier today. The altcoins have marked substantial gains over the past 24 hours, with many posting double-digit price increases.
BTC to Challenge $80K?
What a week it has been for the crypto market. Bitcoin was riding high last Wednesday when it surged to $88,500 following reports that Elon Musk might leave US President Trump’s inner circle. However, it slumped hard in the following hours after the introduction of the latest set of tariffs from the US to the rest of the world.
With every country slapped with at least a 10% tax, BTC promptly dumped toward $80,000. It bounced off and remained relatively stable during most of the weekend at around $83,000, but began losing value rapidly on Sunday evening and into Monday morning.
This price slump took it to a five-month low of under $75,000, thus erasing over $12,000 in less than a week. After a fake report suggested that the US might pause the tariffs for 90 days, BTC bounced back to over $81,000, but dropped below $80,000 once again when the White House refuted the rumors and Trump threatened China with an additional 50% tax.
Currently, BTC has notable 24-hour gains as its price stands above $79,000 after tapping $80,000 earlier today. Its market cap has risen to $1.570 trillion, with a dominance over the altcoin market at 60.5%.
Alts Bounce Off
The ever-volatile altcoins were hit the hardest yesterday but have posted significant gains over the past 24 hours. ETH and XRP are up by 3-4%, trading at over $1,550 and $1.85, respectively.
Even more impressive gains come from the likes of SOL, DOGE, ADA, LINK, AVAX, SUI, HYPE, HBAR, LTC, and XMR. Notably, they have contributed to the total crypto market cap, which has added around $120 billion since yesterday’s low, rising to $2.6 trillion today.
The post These Altcoins Surge the Most as Bitcoin (BTC) Eyes $80K (Market Watch) appeared first on CryptoPotato.
