Bitcoin Reclaims $90K Level, Ondo Skyrockets 14% Daily (Market Watch)
Bitcoin’s remarkable resilience in the volatile cryptocurrency market has captured significant attention as it successfully reclaimed the $90,000 threshold, edging closer to $93,000 for the first time since experiencing a considerable downturn earlier this week. The latest movement comes amidst buoyant performances from various altcoins, notably XRP, which approached $2.6, and SOL, nearing $150.
### BTC Above $90K
The past few weeks in the cryptocurrency realm have been nothing short of tumultuous. Following a preceding phase of stabilization at around $85,000, BTC experienced a surge catalyzed by President Trump’s announcement about the creation of a U.S. crypto strategic reserve, which included mentions of Bitcoin among other digital assets. This revelation sent Bitcoin’s value soaring, adding approximately $10,000 to its price almost instantly. However, the initial excitement was curtailed as bearish market forces exerted pressure, driving the cryptocurrency down to $82,000 by Tuesday.
Despite the challenges, bullish momentum prevailed, as traders successfully defended the critical $80,000 mark. Subsequently, Bitcoin began to recover, surpassing $90,000 during the Thursday Asian trading session. Its ascent was momentarily halted at $93,000, yet Bitcoin remains firmly above the $90,000 boundary, maintaining a market capitalization of approximately $1.8 trillion and commanding over 58% dominance in the altcoin market.
### Alts Turn Green
The favorable trend isn’t limited to Bitcoin; many altcoins have also registered significant gains over recent days. Chainlink (LINK) and Avalanche (AVAX) have emerged as frontrunners among major cryptocurrencies, with LINK climbing 7% to surpass $17, while AVAX approached the $22 mark with a 5.5% increase.
Other prominent altcoins such as XRP, SUI, SOL, and DOGE reported increases ranging from 3% to 4%. Ethereum (ETH), Tron (TRX), and Litecoin (LTC) also demonstrated positive movements. More strikingly, lesser-known tokens like MOVE, ONDO, and CRO experienced double-digit percentage gains in a single day.
The cumulative effect of these movements has seen the total cryptocurrency market capitalization grow by nearly $80 billion, reaching approximately $3.080 trillion, reflecting an overall healthy appetite for risk in the crypto market.
With the volatility of the past weeks fueling both concern and excitement, the current rally illustrates the dynamic nature of the cryptocurrency landscape. As traders and investors monitor these developments closely, the next moves for Bitcoin and its altcoin counterparts will be watched with keen interest.
