Bitcoin, after an expected correction, briefly dropped below $116,000 but subsequently recovered, approaching $119,000. Ethereum displays substantial growth.
Bitcoin's Correction and Recovery
Earlier this week, Bitcoin marked its highest levels, reaching an all-time high of $123,000. However, the anticipated correction led to the asset falling to $116,000. Nevertheless, Bitcoin successfully recovered and is now trading around $119,000 with a market cap of $2.360 trillion.
Ethereum and Altcoin Growth
Many altcoins also exhibited significant gains, with Ethereum leading the charge, increasing by over 6% and hitting $3,150 – a five-month high. Other cryptocurrencies like LINK, SHIB, TON, PEPE, AAVE, and TAO have seen similar increases.
Overall Crypto Market Situation
Overall, the total market capitalization of cryptocurrencies has recovered by approximately $100 billion, reaching $3.830 trillion. Major cryptocurrencies like XRP have approached critical resistance levels, while BNB is showing growth, nearing $700.
This results in a stable recovery of major cryptocurrencies following recent fluctuations. Bitcoin continues to lead, while Ethereum sets new records, signaling ongoing investor interest in crypto-assets.
