Bitcoin surged past $81,000 on Friday, marking its highest level in two weeks after a tumultuous trading week. The cryptocurrency maintained its gains over the weekend, currently trading above $81,000 with a market cap of $1.630 trillion and 58.7% dominance over altcoins.
The week began with significant headwinds. On Tuesday, the US Senate rejected advancing the CLARITY Act, prompting Bitcoin to decline to $75,000. A day later, the Federal Reserve raised interest rates for the first time in over three years, causing further volatility. Despite these setbacks, bullish momentum emerged by Friday morning when Bitcoin jumped to $78,000 before launching a substantial rally during US trading hours.
Altcoins Rally Broadly
Major altcoins posted solid gains on the day. Ethereum rose 5% to reclaim the $2,600 level, while XRP jumped past $1.40 on a 6.4% increase. Solana climbed above $110 after a 5.4% pump. Additional gainers included XMR, RAIN, ZEC, LINK, TAO, AAVE, and SUI.
Several tokens posted double-digit increases, including ENA, AVAX, MORPHO, SKY, INJ, and PIEVERSE. Bitcoin Cash declined over 9% to fall below $0.60, bucking the broader upward trend.
Market Expansion
The total cryptocurrency market capitalization increased by $150 billion in a single day, reaching $2.780 trillion across all digital assets.
