Bitcoin charts a fresh monthly high as it rises Over $23.5K; Ether Soars Past $1.6K.
Some altcoins Including MATIC, AVAX, and OKB are already up by double-digits, meanwhile, ETH and BTC have charted new monthly highs.
The bulls’ seemed to have gained more control over the market as bitcoin rallied to a new monthly high above $23,500. Other altcoins are also doing well in the green, with ETH charting a local peak of its own at almost $1,500. MATIC has also soared by double digits.
ETH, AVAX, MATIC, Lead
In the past few days, most altcoins have done well, with Ethereum leading the charge. The most likely reason for this is because of the recent 9th shadow fork that will be going live, ETH has been on a roll. The asset dropped to around $1,000 on the 13th of July but has added almost 50% of value since then and is now close to $1,500. ETH also experienced a 9% increase in the past 24 hours.
Other mid-cap alts also impressed on a daily scale. MATIC is one of them as it has soared by 18% to $0.9. However, in the past week, the asset has seen a 65% increase.
ETC currently trades at $23 having seen a similar percentage surge in a day. AVAX and OKB are also up by around 10% to $24 and $14, respectively.
Although more modest, BNB, DOGE, ADA, XRP, DOT, SOL, and Shiba Inu are also doing well.
The total market cap of all crypto assets has increased by over $100 billion in the past two days. And this led to the metric soaring above $1 trillion for the first time in weeks.
Bitcoin’s New Monthly High
The mother cryptocurrency dumped hard on the 13th of July also, as a result of the latest US CPI numbers. At the time, the extreme volatility caused by the release pushed BTC to below $19,000.
However, the situation is quite different now. Bitcoin reacted positively to this drop and started reclaiming value almost immediately. As such, it surpassed the $20,000 mark over the weekend and has even jumped towards the $23,000 mark.
The past 24 hours turned out to be quite bullish as well. Bitcoin added more than $1,500 and soared to a little above $23,600 where it is trading currently. This is the highest price level of BTC in over a month.
This has caused the market cap of bitcoin to increase closely to $430 billion, while its dominance over the altcoins remains at 42%.
Featured image source: willywealthtrading.com
