For Bitcoin it had an amazing surge in crypto market, bringing it close to $48,000 for the first time since the beginning of the year. Solana, Polkadot, Avalanche, Dogecoin, Shiba Inu, and other alternative coins are also performing strongly. Bitcoin broke the $40,000 mark on March 16 and hasn’t looked back since. After a few near-misses, the asset began to progressively recapture additional round-number milestones, eventually reaching $45,000 a few days ago.
The weekend began quite calmly, with BTC having retraced a little but remaining in a range between $44,000 and $45,000. At first, it was a reasonably slow day, at least initially, until everything changed. In only a few hours, the cryptocurrency gained about $3,000 and reached an intraday high of $47,800. Furthermore, this is the asset’s highest price since January 2. The significant price hike also resulted in more than $400 million in liquidations. BTC has just retraced a little and is presently trading near $47,000. Nonetheless, its market value is approaching $900 billion.
Most cryptocurrencies were relatively stable during the weekend, but have since risen in value on a daily basis, comparable to bitcoin. Ethereum has also risen beyond $3,300 for the first time in months, with the second-largest cryptocurrency increasing by 5%. Binance Coin (BNB) is now worth more than $430, up 3%.
Ripple, Cardano, and Terra all had price increases of $0.86, $1.18, and $95. More gains come from Solana, Polkadot, Avalanche, Dogecoin, Shiba Inu, and CRO, which are all up between 6% and 8%. Gnosis (28%), Holo (28%), Filecoin (25%), Zilliqa (18%), EOS (18%), VeChain (18%), ICP (15%), eCash (15%), and others have all seen increases. Finally, the cryptocurrency market capitalization increased by $120 billion in a single day, reaching a multi-month high.