After trading below $39,000 for some time over the weekend, bitcoin finally on Monday recorded a surge in price and crossed $40,000 to a 19-month high above $42,000.
Altcoins also followed the bullish trend, with ETH surging above $2,250, while some tokens such as Terra showed double-digit price increases again.
Few things can change in the crypto market within seven days. Just a week ago, BTC had dipped below $37,000 after a quiet weekend. BTC began to gain traction over the next few days and surged above $38,000 several times before finally breaking above that level mid-week.
Higher gains came at the start of the weekend as bitcoin soared above $39,000 for the first time since May 2022. On Monday, Bitcoin began a major surge that resulted in a break above $40,000. However, the BTC momentum did not stop there and continued to climb.
Last of all so far BTC surged to $41,842.09 to form its highest price in 19 months, and at the same time there was more than $150 million in liquidity.
So far the green momemtum dominates almost all the charts. Ethereum has surged more than 4% and is at its own 19-month high of $2,260. Binance Coin has regained the $230 level after a daily increase of 3%.
Ripple, Cardano, Tron, Avalanche, Polygon, and Polkadot also showed similar gains, while the two largest meme coins DOGE and SHIB jumped by 6% and 11% respectively. Bitcoin Cash also increased by an impressive percentage (10%) and is trading at $250.
The crypto market capitalization has added more than $70 billion in a day and is at $1.550 trillion on the CMC.
