Crypto market gains $60 billion daily as Bitcoin soars from $3,000 to $38,000 (MarketWatch)

Bitcoin reacted well to yesterday’s weekly low, jumping $30,000 in a few hours and challenging $38,000 again.

Altcoins also turned green, with ETH regaining $2,000 and BNB above $250.

BTC eyes $38,000 again

Just a week ago, Bitcoin soared to $38,000 for the first time in 18 months before crashing. However, the bears anticipated this move and quickly pushed assets south. In just a few minutes, Bitcoin fell by more than $2,000.

By the end of the week, BTC had regained some value and was above $37,000 for several days. The situation worsened on Tuesday and especially on Wednesday, when bears pushed the cryptocurrency to a weekly low of $35,000.

Nevertheless, BTC bounced off that support level and began to rise further. This time, his assets increased by $3,000 in less than a day, and a few hours ago he again topped $38,000.

I can't get over that at the moment and it's about $500 away from there. The company's market capitalization increased by about $30 billion, to just over $730 billion at CMC.

alts sea green

This usually happens when Bitcoin's volatility increases, so most altcoins don't tend to sit on the sidelines and wait. Some of the large-cap alternative currencies with the most modest appreciation include ETH, BNB, XRP, TRX, LINK, and LTC, with price increases of up to 4%.

In the case of Ethereum, the asset has soared above the $2,000 level, while Binance Coin is trading above $250.

Some of the more notable price spikes came from Solana (11%), Cardano (9%), Dogecoin (6%), Polkadot (8%), Toncoin (8%), Uniswap (5.5%), and others. Avalanche holds a unique position with a massive 27% daily gain. As a result, AVAX is trading well above $23.

Cryptocurrency market capitalization increased by over $60 billion overnight and is now approaching $1,450 trillion at CMC.