The total crypto market cap has soared to $4.1 trillion.
Bitcoin’s price correction on Tuesday didn’t last long, and the asset flew past a key resistance level and shot up to $116,500 for the first time since September 19.
Many altcoins have followed suit with impressive gains over the past few hours, including ZEC, PUMP, and PENGU.
BTC Rockets Past $116K
As history suggested, bitcoin’s price suffered in September, especially at its end. Recall that the asset slumped from over $114,000 to under $109,000 by September 26 as it charted a multi-week low.
That support managed to hold, and BTC spent most of the weekend trading sideways below $110,000. The bulls finally stepped up on Monday and pushed the cryptocurrency beyond that level to $112,500. After hitting some resistance there, bitcoin went on the offensive once more and neared $115,000 later during the day.
It was stopped there at first and pushed south by over two grand to under $113,000. It stood there for a while, but the actual breakout took place earlier today after the US government shut down.
Bitcoin jumped from that level to a two-week high of over $116,500, charted minutes ago. This surge has pushed its market cap to beyond $2.320 trillion on CG, while its dominance over the alts sits at 56.7%.
Alts on the Rise
A big portion of the larger-cap alts have followed bitcoin on the way north. Ethereum has jumped to $4,300 after a 4% daily increase, XRP trades above $2.90, while BNB remains well beyond $1,000. Even more impressive gains come from the likes of SOL, DOGE, ADA, AVAX, HYPE, SOL, XLM, BCH, and SHIB.
The top performers from the largest 100 alts are ZEC, which has skyrocketed by more than 40%, PUMP, which is up by over 27%, and PENGU, which has jumped by 12%.
The total crypto market cap has added over $100 billion since yesterday’s low and has soared to $4.1 trillion on CG.
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Cryptocurrency charts by TradingView.
