Bitcoin’s gradual price recovery that started earlier this week has taken the asset to just over $113,000 for the first time since Monday’s crash.
A few altcoins have posted big gains over the past 24 hours, but the momentum clearly belongs to the native token of the Cronos ecosystem – CRO.
The primary cryptocurrency had an eventful end to the previous business week. It had dropped below $112,000 in anticipation of Jerome Powell’s speech, which was somewhat promising in terms of upcoming rate cuts. This sent the asset flying, and BTC exploded by over five grand in minutes to top $117,000.
However, that was short-lived, and bitcoin returned to $115,000 during the weekend. The landscape took a turn for the worse on Sunday evening when the cryptocurrency plunged by $4,000 and slipped below $111,000. Although it tried to recover some ground on Monday, it quickly started to lose value again.
The culmination came on Tuesday when BTC slipped below $109,000 for the first time in approximately seven weeks. The bulls finally stepped up at this point and pushed the asset north to around $110,000 for the next day. BTC has slowly climbed since then and today jumped past $113,000, where it currently trades.
Its market cap has risen to over $2.250 trillion, while its dominance over the alts is well above 56%.
CRO’s price has been on a massive roll since Monday, when the exchange behind it and Trump Media Group announced a groundbreaking partnership in two parts that will ultimately see the POTUS-related company accumulate roughly 20% of the token’s supply.
CRO reacted with an immediate surge from $0.15 to $0.22, but it only kept pumping in the following days. The culmination, so far, came earlier today with a surge $0.38 – the highest level since April 2022.
Other notable gainers over the past 24 hours include MNT, PI, and SOL. ETH, BNB, DOGE, TRX, ADA, and SUI are also in the green.
The total crypto market cap has increased by $70 billion and is up to the $4 trillion mark on CG.
