After dropping to below $53,000 on Friday, Bitcoin saw a positive turnaround, gaining over $4,000, and currently stands above $57,000. Most altcoins have also seen gains over the past day, with DOGE rising above $0.1 following a 7% increase.
## BTC Touched $58K Briefly
As mentioned earlier, last week was challenging for Bitcoin, likely influenced by significant outflows from spot Bitcoin ETFs in the U.S. Within five days, BTC fell from over $59,000 to below $53,000 on Friday, hitting a monthly low. However, the bulls stepped in, preventing further decline towards $50,000. Instead, Bitcoin regained some ground, staying mostly above $54,000 over the weekend.
Monday saw an increase to above $55,000, followed by a minor retracement and a more substantial rally in the evening, reaching a 5-day high of over $58,000. Despite not maintaining that level, Bitcoin’s market cap soared to $1.130 trillion, with a 0.4% daily increase in its dominance over altcoins, reaching 53.7%.
## DOGE on a Roll
Most altcoins have continued to post minor daily gains. Ethereum rose above $2,350 with a 1.4% increase, and BNB reached $520 following a 2.5% surge. SOL is near $135 after a 3.7% gain. Similar increases are observed in TON, BCH, and NEAR. Dogecoin stands out as today’s top performer, rising over 6% to sit above $0.1. Other notable gains come from FET (10%), KAS (7.5%), PEPe (8%), STX (7.5%), and RNDR (5%).
The total crypto market cap has increased by over $50 billion overnight, now exceeding $2.1 trillion.
