Bitcoin’s recovery statement sends the crypto market cap above $900 billion

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Bitcoin’s recovery statement sends the crypto market cap above $900 billion

The general cryptocurrency market cap surged 1.45% today, hitting $916 billion, following bitcoin’s rally. 

Bitcoin recovering

Today, for the first time since November 11th, the crypto market capitalization hit $900 billion. Most of the market rally is attributed to BTC’s performance in the past 24 hours.

Bitcoin’s recovery statement sends the crypto market cap above $900 billion - 1
Source: Coinmarketcap.com

The largest crypto asset BTC has been recording massive rallies in the past 24 hours, leading to a general crypto market recovery. The coin is currently trading at $19.3k, a 2.55% price surge in the past 24 hours and a 14.5% increase over the last seven days.

This coin is genuinely among the biggest gainers in the crypto landscape today. According to Trading View, bitcoin is currently in a ‘buy’ situation, indicating strong investor confidence.

Bitcoin’s most immediate support and resistance levels are $17.8k and $19.4k, respectively. If BTC surpasses its most immediate resistance, it could surge further and maybe crack $20k for the first time in months. However, if the coin takes an adverse turn, it could plunge to the sub $15k level.

Top altcoins ETH, SOL, SHIB, and ADA slightly affected 

Ethereum has been recording neutral price action in the past 24 hours.

The coin is currently trading at $1.41k, a 0.05% increase. Its 24-hour high and low stand at $1.40 and $1.43. At the moment, ethereum’s market situation is virtually neutral, meaning that the number of buys and sells is almost at equilibrium. 

Another coin, solana, is currently in a strong rally that began a few days ago. The coin is trading at $16.78, a 1.34% increase in the past 24 hours and a 25.8% surge from the past seven days. The hype on BONK, a Solana-based meme coin, was the main driver of SOL’s prices.

Bitcoin’s recovery statement sends the crypto market cap above $900 billion - 2
Source: Coinmarketcap.com

Since its inception, BONK has been gaining value insanely, surging from $0.00000026 to $0.0000045 in just a few days. Its price surges led to high demand for SOL, causing rallies. However, at the moment, BONK is trading at merely a fraction of its former high, at $0.0000009.

BONE, an Ethereum-based token, has also recorded some small price surges recently. According to reports, the token is up 0.9% and is currently trading at $1.21. Other top altcoins like Fantom, Shib, and ADA recorded small price surges of 7.8%, 0.41%, and 0.28%, respectively.

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