Bitcoin’s upward price momentum on Friday evening has persisted over the past 12 hours, reaching $65,000 for the first time since August 3. Several altcoins also saw significant gains in the same period, with SATS rising by 25%, followed by FET (19%) and SUI (15%).
**BTC on the $65K Road**
The end of this business week was markedly different from the previous one, where BTC plunged to $56,000 on Thursday but recovered some ground by Friday and over the weekend. However, Monday began with a dip from $60,000 to $58,000. Bulls managed to step in and curb further declines, making the rest of the week relatively uneventful until Friday evening. Positive news from the US, including Fed Chair Jerome Powell’s promise to start cutting interest rates, triggered a surge in BTC. The asset climbed from just over $60,000 to $64,000 in a matter of hours. Following a minor correction, BTC surged again to reach $65,000 for the first time in over three weeks. Despite a slight retracement of around $800 since then, BTC remains 5% up on the day and sits above $64,000. Its market cap has soared to $1.270 trillion, and its dominance over altcoins has increased to 53.8%.
**SOL, SHIB Rise**
Most altcoins are also in the green today. Ethereum has surged by over 3% in the past 24 hours, surpassing $2,760. Ripple, Toncoin, Dogecoin, Tron, Cardano, Avalanche, Bitcoin Cash, and Polkadot have also posted gains of up to 5%. Solana and Shiba Inu are the top performers among larger-cap altcoins, both rising by about 6%. SOL has climbed to over $150, while SHIB has increased to $0.000015. Additional gains from the top 100 altcoins include SATS (25%), FET (19%), SUI (15%), WIF (15%), SEI (13%), and PEPE (12%). The total crypto market cap has added around $100 billion since yesterday, reaching $2.360 trillion.
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