Bitcoin has recovered from a recent slump, during which it fell below $26,000 to reach a two-month low. However, the asset has since bounced back and reclaimed $27,000. Although bitcoin had reached a multi-day high of $28,400 after the release of US CPI numbers for April, this pump was short-lived and followed by a severe rejection that led to a $1,500 drop. BTC attempted to break $28,000 again but was rejected once more. On Friday, the cryptocurrency hit $25,800 for the first time in two months, after which the bulls pushed up the price to $27,000.
Altcoins Outperform Bitcoin
Several altcoins, including LTC, LDO, TONCOIN, APT, BCH, and GRT, have outperformed bitcoin in the past day. Although the weekend was relatively quiet for most altcoins, Ethereum, Binance Coin, Ripple, Cardano, Dogecoin, Solana, and MATIC all saw slight gains. However, TONCOIN, APT, BCH, and GRT have seen more significant gains of around 5-6%. Litecoin and Lido DAO have emerged as the top performers today, with both seeing an increase of 8% or more.
Crypto Market Cap Approaches $1.150 Trillion
The total crypto market cap has risen by around $20 billion daily and is now close to $1.150 trillion. Bitcoin’s market cap has surpassed $530 billion, and its dominance over the altcoins has slightly increased to 46.5%.