Bitcoin (BTC) soars above $71,000, crypto market increases by $70 billion daily (MarketWatch)

Bitcoin reached the $70,000 level yesterday, but had to wait another day to break above it for the first time in about a week.

Altcoins also turned green today. Ethereum regained $3,500 and DOGE rose above $0.2.

BTC exceeds $71,000

Bitcoin got off to a bad start by failing to break above $71,000 at the start of the previous trading week, but bears pushed it down to $68,000 on Monday and $66,000 on Tuesday. Wednesday saw further declines, with Bitcoin falling to a 10-day low below $64,500.

Here, the bulls finally stepped up and began a leg up that pushed the cryptocurrency to just over $69,000. However, this rise did not last long and BTC quickly returned to $66,000.

Volatility increased further over the weekend, with assets rising to $69,000 by Friday and Saturday. Bulls tried to break out of $70,000 on Sunday, but to no avail. That level finally fell earlier today as BTC burst through that level and rose to just over $71,000.

It remains at that level as speculation continues as to whether it will be able to break above its all-time high of $73,800 set in early March before the upcoming halving.

Although BTC's market capitalization is approaching $1.4 trillion, BTC's dominance over alternatives only reaches 50.4% in CG.

ETH soars above $3.5 million

The second largest cryptocurrency ranks among the top performers over the past 24 hours. ETH has surged about 5% to above $3,500 for the first time in weeks.

Dogecoin is also a rising stock to watch. OG Meme Coin is up just over 5% today, same as yesterday, and is currently trading above $0.2. WIF (13%) skyrocketed to over his $4.

The remaining large-cap stocks are also shown in green, but their representation is more modest. The market capitalization of cryptocurrencies jumped by about $70 billion in one day and now stands at nearly $2.8 trillion.