By Billie Harvill
The crypto market cap has gained $120 billion in one day as Bitcoin (BTC) surged past $51,000.
The fall to the $48,000 mark did not exhaust Bitcoin as the asset stepped up, adding over $3,000 to its price in one day. The alternative tokens also witnessed the green sentiment, with LUNA attaining another ATH of $100 after a double-digit surge.
Bitcoin Surges Past $51,000
The largest crypto has battled the $50,000 hurdle multiple times over the past sessions. Bitcoin made the latest attempt 48 hours ago when the crypto faced rejection near the mark. The subsequent rejection pushed the asset lower towards $48,000 during yesterday’s trading sessions. However, bulls stepped up at the value area to shift the narrative.
Bitcoin saw a rapid value increase within the following hours. The momentum has the coin breaking past $50,000 and challenged the $51,500 price area. That way, Bitcoin trades at its highest value since 7 December. Meanwhile, BTC’s market cap has surged well past $950 billion.
Altcoins in Green – LUNA Hits New ATH at $100
The altcoin market saw massive bullish actions within the past day. For instance, Ethereum recorded a 5% surge in 24 hours, escaping the struggle under $3,800 to explore levels beyond $4,100. Other alts mimicked price reactions by BTC and ETH.
Binance Coin noted a 5% increase to $550. SOL (6%), ADA (8%), DOT (7.5%), AVAX (3.5%), DOGE (3.5%), SHIB (8.5%) and MATIC (2.2%) also traded with considerable gains in the green. Meanwhile, LUNA and CRO led the large-cap assets. Terra’s native coin surged more than 16% to hit new ATHs of $100. Meanwhile, CRO trades past $0.6 with a 14% gain.
Nevertheless, Dogelon Mars (ELON) was the new top-100 representative, skyrocketing to $0.0000018 with a 36% 24Hr gain. More surges came from Arweave (20%), Sandbox (23%), IoTeX (18%), SUSHI (17%), MANA (15%), ICP (16%), THORChain (13%) and Dash (15%).
The impressive performance in the crypto spectrum had the global market cap surging over $100 billion within 24 hours, nearing $2.4 trillion. For now, Bitcoin has to avoid the $50,000 and record steady surges to support the broad market.