Zcash (ZEC) Explodes by 60% Daily, Bitcoin (BTC) Taps 7-Week High: Market Watch

Bitcoin’s impressive rally that started at the beginning of the business week continued in the past 24 hours as the asset flew past $119,000 for the first time since mid-August.

Many larger-cap alts have posted notable gains over the past day as well, including double-digit price pumps from CRO and LTC.

BTC Eyes $120K

It’s safe to say that last week’s bearishness has disappeared from the cryptocurrency markets. Recall that six days ago, bitcoin’s price tumbled to under $109,000 after losing the $112,000 support. However, the bulls intercepted the move and didn’t allow another breakdown.

BTC remained sideways during the weekend but went hard on the offensive on Monday, jumping to nearly $115,000. Expectedly, a brief correction followed that took it south to $113,000.

The cryptocurrency recoiled from that level and returned stronger than before. It pushed past the $115,000 barrier and skyrocketed to over $118,000 yesterday and all the way up to $119,500 earlier today. This became its highest price tag since August 15.

Despite losing some traction since then, BTC stands close to $119,000 as of press time. Its market cap has climbed to $2.370 trillion on CG, while its dominance over the alts stands still at 56.7%.

BTC/USD. Source: TradingView

ZEC Explodes

Most larger-cap alts are well in the green today. Ethereum briefly surpassed $4,400 earlier today but now stands just inches below it. XRP also tapped $3 but is yet to overcome that line decisively.

Dogecoin and Hyperliquid have jumped by 6% each. LTC rocketed to $120 after a 10% daily surge. CRO has skyrocketed to over $0.22 after a 12% pump since yesterday.

Zcash has emerged as the top gainer over the past day (and week). ZEC has added over 60% of value since yesterday and more than 140% on a weekly scale. It now trades close to $250.

The total crypto market cap has risen to $4.175 trillion on CG, after gaining more than $200 billion since Monday.

Cryptocurrency Market Overview. Source: QuantifyCrypto

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