After a few days of consecutive declines, Bitcoin finally reversed its price trajectory and reached $43,000.
Most altcoins are also in the black today, with SOL recovering $100, ADA and AVAX up 4-5%, and LINK exploding 16%.
BTC returns to $43,000
The leading cryptocurrency went on the offensive after hitting a local bottom last Thursday, when it plummeted to $38,500. It quickly returned to $40,000 and continued to rise over the weekend to $42,000.
After a brief pause, the asset began gaining ground again at the start of the current business week. This culminated in the price surging as high as $43,750 on a few occasions, including one such attempt recorded on Wednesday.
However, this was short-lived and BTC quickly bounced back by almost two thousand dollars. This occurred in the context of the US Fed’s latest announcement regarding its monetary policy. However, BTC did not stay down for long and surpassed $43,000 hours ago.
As of now, the cryptocurrency is trading around that level with a daily increase of 2%. Its market capitalization has surpassed $840 billion, while its alt dominance stands at 51.1% on CMC.
LINK steals the show
Most altcoins slipped yesterday, but turned green today. Ethereum and Binance Coin exceeded $2,300 and $300 respectively, after similar increases of 2%. Solana returned to $100 after a notable daily jump of 5.5%.
AVAX and ADA gained similar percentages, followed by Tron, Polkadot, Polygon and others. Chainlink stole the show with a massive 16% increase. As a result, LINK now trades at around $18. More impressive earnings come from the likes of ICP and IMX.
The cumulative market capitalization of all crypto assets gained $30 billion overnight and is back at $1.650 trillion on CMC.
