Bitcoin’s positive price action on Friday evening continued over the past 12 hours or so, with the asset touching $65,000 for the first time since August 3.
Several altcoins have also produced impressive gains within the same time frame, with SATS up 25%, followed by FET (19%) and SUI (15%).
BTC on its way to $65,000
The end of this work week was quite different from the previous one, when BTC fell to $56,000 on Thursday but managed to regain some ground on Friday and over the weekend. However, Monday started with another pullback as the asset fell from $60,000 to $58,000.
The bulls managed to step in and prevent further declines, but the rest of the week, at least until Friday evening, was rather without notable eventsThat’s when positive news emerged from the United States, including from Federal Reserve Chairman Jerome Powell. promise to start reducing interest rates and BTC he ran away.
Within hours, the asset rose from just over $60,000 to $64,000. After a minor correction, it went back on the offensive and rose to $65,000 for the first time in more than three weeks.
Despite having retreated by around $800 since then, BTC is still up 5% on the day and stands above $64,000. Its market cap has soared to $1.27 trillion and its dominance over altcoins has reached 53.8%.
SOL and SHIB rise
Most altcoins are also in the green today. Ethereum is up more than 3% over the past 24 hours and is trading above $2,760. Ripple, Toncoin, Dogecoin, Tron, Cardano, Avalanche, Bitcoin Cash, and Polkadot have also seen gains of up to 5%.
Solana and Shiba Inu are the best-performing large-cap altcoins. Both assets are up around 6%, helping SOL climb to over $150, while SHIB has climbed to $0.000015.
Other gains in the top 100 altcoins come from SATS (25%), FET (19%), SUI (15%), WIF (15%), SEI (13%), and PEPE (12%).
The total cryptocurrency market capitalization has added around $100 billion since yesterday and stands at $2.36 trillion.
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