Bitcoin’s recent price appreciations continued in the past 24 hours, and the asset touched and briefly exceeded $48,000 for the first time in months. Most altcoins have calmed, but Terra broke above $100 and tapped a new all-time high.
Bitcoin touched $48,000
The last few days have been very positive for the main cryptocurrency as the bulls have kept a strong hold in the market. It all started a week ago when BTC was about to break below $40,000, but the asset rebounded quite decisively adding $2,000 in hours.
After a few days of consolidation, bitcoin went on the offensive again and tapped $45,000 on March 25. The scenario repeated once again, and BTC started surging again on late Sunday and early Monday.
After leaving more than $400 million in daily liquidations, the cryptocurrency hit close to $48,000 for the first time since the start of the year. It failed to break that level at first, but the bulls pushed it north again a few hours later. This time, BTC briefly broke above $48,000 to hit a new three-month high.
As of now, it has retraced by a few hundred dollars and stands around $47,500. Nevertheless, its market capitalization sits at just over $900 billion.
Terra’s New HUD
Altcoins also mimicked BTC’s performance yesterday, with notable price gains across the board. Now, however, most have calmed down.
Ethereum has gained another 3% in the past 24 hours and has surged above $3,400. This is the asset’s highest price tag since early January.
Binance Coin, Ripple, Cardano, Solana and Avalanche are also slightly in the green. Shiba Inu is up around 5% on the day and sits near $0.00003. In contrast, Polkadot and Dogecoin produced minor losses.
Terra is the most substantial gainer from the larger-cap altcoins. Luna has soared by another 9% and broke above $100. As a result, the asset charted a new all-time high at $105 earlier today.
Waves jumped the most in the top 100 after a 60% increase in one day. As a result, WAVES hit $50. More gains come from Loopring 16%, Compound (14%) and THORChain (13%).
The crypto market cap has increased a bit more and now stands at $2.150 trillion.
