After several days of underwhelming price performance, bitcoin finally started a significant surge that pushed its price over a thousand dollars.
Altcoins are also following this pace, and almost all charts are now trading firmer. Solana managed to maintain the price level of $20 with a daily increase of 4%.
The previous trading week did not start well for BTC, which started losing value after failing to hold above $28,000. The next few days looked a bit painful, with BTC plunging to a two-week low of $26,500 on Wednesday.
As expected, last weekend was pretty dreary, with little to no movement. However, trading on Monday brought more volatility. That said, BTC jumped over a thousand dollars in a few hours and hit a weekly high just below $28,000.
Today's 3.5% rise shows its market capitalization has risen sharply to more than $540 billion after struggling below $525 billion yesterday. Its dominance over altcoins has also increased to more than 50% now.
Alternative cryptos also struggled last week, possibly as a result of the ongoing conflict. Well, now, almost all the charts are filled with green.
Ethereum has risen by 1.5% and is close to the $1,600 level. Binance Coin has surged above $210 after a daily increase of 2.5%. Ripple, Cardano, Dogecoin, Tron, Toncoin, Polkadot, Polygon, and Litecoin have increased by 1-2%.
Solana rose by 4% and is close to the $23 level. Bitcoin Cash and Bitcoin SV have benefited the most from the big-cap altcoins. BCH is up over 5%, while BSV has surged over 11%.
The overall crypto market cap has increased by $30 billion since Monday's price spike.
