Bitcoin continues to reclaim some ground and has jumped above $55,000 for the first time since the Friday crash today.
The altcoins are also slightly in the green, with ETH standing above $2,300 and BNB solidifying its position north of $500.
BTC Above $55K
The primary cryptocurrency went through a highly volatile and mostly bearish week as it dropped from nearly $60,000 (on Tuesday) to a monthly low of under $53,000 by Friday evening. In between, it registered a few lower highs, but the landscape showed a false promise on Friday afternoon when the US released its jobs report.
Within minutes, BTC jumped from $55,500 to $57,000, but that was short-lived. Instead of heading further north, it quickly reversed its trajectory and plummeted by over four grand in hours, leaving millions in liquidations .
Bitcoin began its sluggish recovery during the weekend amid speculations about whether it had found it bottom, spending it at around $54,000. Monday started on another positive note as the asset jumped above $55,000 for the first time since Friday.
Being more than 1% up on the day means that its market cap has increased to $1.090 trillion. However, its dominance over the alts still struggles at just over 53% on CG.
TON on the Rise
Toncoin has been among the poorest performers in the past several weeks, mostly due to the arrest of Telegram’s CEO – Pavel Durov – in France. However, the asset has gained the most from the top 20 cryptocurrencies today. It’s up by 6.4% daily and has reclaimed the $5 level.
FET and AAVE are the other notable gainers from the larger-cap alts. FET is up by 5.5%, while AAVE has soared by 9%.
ETH, BNB, DOGE, TRX, ADA, SHIB, and BCH have also charted minor increases, while LINK, UNI, AVAX, and NEAR have added around 3-4% of value daily.
The total crypto market cap has jumped by $30 billion since yesterday and is up to $2.050 trillion on CG.
