Crypto Markets Add $80 Billion in One Day as Bitcoin Hit $42K

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The cryptocurrency market capitalization gained around $100 billion as BTC climbed towards $42K and ETH surpassed $2.9K.

Bitcoin recorded an impressive move to tap $42K after dropping towards $40K yesterday. That had Bitcoin hitting the highest level in about ten days. BTC’s upticks had the altcoin market going green today, Ethereum targeting $3K and AVAX gaining more than 9%.

Bitcoin on 9-Day Highs

The primary crypto saw improved volatility last week. It recorded a sudden $3,000 pump from $39K to around $42K within minutes. Nevertheless, that overturned shortly after, BTC erasing the acquired gains.

The crypto reclaimed $40K the following day before US Fed confirmed intentions to raise interest rates by 25-points. The news saw Bitcoin sliding again, losing nearly $1,000. However, the downward move was short-lived as the digital token went offensive once more. Meanwhile, Bitcoin kept its price reactions beyond the $40K area.

The past few hours witnessed BTC on another upside move, slightly surpassing the $42K, the level next conquered since 10 March. For now, the crypto hovers beneath this level, whereas its market cap nears $800 billion.

Alts in Green: AVAX Explodes

The altcoin market remained somewhat calm over the past couple of days, but alts ride green waves at the moment. Ethereum (ETH) is among the leading performers in large-cap alternative coins. The 2nd-largest digital coin gained around 5% to stay well beyond $2,900. Remember, Ethereum dropped beneath $2,500 almost one week ago.

BNB, XRP, LUNA, SOL, ADA, DOGE, DOT, and SHIB also trade higher on Saturday, surging between 2 and 5%. Avalanche leads the large-cap token, gaining 9.5% to stand beyond $85. More 24hr upsurges came from THORChain (11%), Fantom (10%), Waves (12.5%), Zcash (13%), and SNX (22%).

Upside crypto price actions saw the global cryptocurrency market capitalization adding approximately $80B in a day, approaching the $1.9 trillion mark.

The crypto market displays a bullish stance today. That comes as most assets in the top 100 registered impressive 24-hour gains. It may be fascinating to see what upcoming trends will boast.


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