Recently, the spot Bitcoin ETFs have been receiving positive inflows, leading to a steady increase in the price of Bitcoin. The cryptocurrency hit $66,000 today after a month-long period of recovery. Bitcoin went through a period of extreme volatility at the beginning of the month, dropping to a low of under $54,000 on July 5. However, since then, Bitcoin has managed to bounce back and recover over $10,000 in value.
Not only is Bitcoin on the rise, but altcoins are also benefiting from the positive market sentiment. XRP, in particular, has seen a significant surge of 13% in the past 24 hours, leading the pack of altcoins. Other altcoins such as FET, SOL, DOGE, AVAX, DOT, APT, XLM, and ATOM have also experienced notable gains ranging from 5% to 10%.
Ripple’s native token, XRP, has emerged as one of the top performers in the crypto market today. With a surge of over 13%, XRP is now trading at a multi-month high of over $0.6. This impressive performance by XRP showcases the overall bullish sentiment in the market and the growing interest in altcoins.
The cumulative market capitalization of all crypto assets has seen a significant increase of over $80 billion overnight, reaching a total of just over $2.5 trillion. Bitcoin’s market cap is slightly above $1.280 trillion, with a dominance over altcoins at 51.2% on CG. This surge in market capitalization signifies a renewed interest and investment in the cryptocurrency market as a whole.
The recent price surge of Bitcoin and altcoins, particularly XRP, highlights the positive sentiment and growing confidence in the cryptocurrency market. With Bitcoin reclaiming $66,000 and altcoins experiencing significant gains, investors are once again showing their interest in digital assets. As the market continues to evolve and mature, it will be interesting to see how these trends unfold in the coming days and weeks.
