BTC Hits 7-Week High as ZEC Gains 60%
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Bitcoin’s impressive rally that started at the beginning of the business week continued in the past 24 hours as the asset flew past $119,000 for the first time since mid-August.
Many larger-cap alts have posted notable gains over the past day as well, including double-digit price pumps from CRO and LTC.
BTC Eyes $120K
It’s safe to say that last week’s bearishness has disappeared from the cryptocurrency markets. Recall that six days ago, bitcoin’s price tumbled to under $109,000 after losing the $112,000 support. However, the bulls intercepted the move and didn’t allow another breakdown.
BTC remained sideways during the weekend but went hard on the offensive on Monday, jumping to nearly $115,000. Expectedly, a brief correction followed that took it south to $113,000.
The cryptocurrency recoiled from that level and returned stronger than before. It pushed past the $115,000 barrier and skyrocketed to over $118,000 yesterday and all the way up to $119,500 earlier today. This became its highest price tag since August 15.
Despite losing some traction since then, BTC stands close to $119,000 as of press time. Its market cap has climbed to $2.370 trillion on CG, while its dominance over the alts stands still at 56.7%.
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