HYPE Shoots Past $50 as BTC Price Eyes $112K: Market Watch

Bitcoin’s rather dull price actions have continued in the past 48 hours, but the asset managed to chart a minor gain toward $112,000 earlier today.

Several altcoins have produced more impressive daily increases, such as DOGE and HYPE, both of which have jumped by around 7%.

BTC Eyes $112K

The primary cryptocurrency has struggled for the most part of the past few weeks. Recall that the asset started September, which is historically a bearish month, on the wrong foot, with a price slump to a multi-week low of $107,200.

The bulls managed to defend that level despite a few retests and pushed bitcoin north. The culmination transpired on Friday when, after a few fluctuations, BTC skyrocketed to over $113,400 to mark a seven-day peak.

That impressive rally came after the US jobs report, but it quickly disappeared, and bitcoin slumped by around three grand to under $110,500. The weekend was expectedly calmer as BTC slipped to $110,000 on Saturday, where it found the necessary support.

Monday began on a more positive note, with a price jump to almost $112,000, where it faced an immediate rejection. As of press time, BTC stands at around $111,600, with a market cap of over $2.220 trillion. Its dominance over the alts has retreated slightly, but it’s still above 56% on CG.

BTCUSD. Source: TradingView

These Alts Are Pumping

While a few of the larger-cap alts, such as ETH, BNB, and LINK, have remained calm on a daily scale, others, like HYPE and DOGE, have produced impressive gains. Both are up by over 7% in a day. HYPE has neared its all-time high at $51, while DOGE trades above $0.23. XRP, SOL, and TRX are also slightly in the green.

WLD is today’s bigger gainer, having surged by over 22% to $1.25. PENGU follows suit, with a 14% pump that has taken it to almost $0.33. BONK and FOM are next in line.

The total crypto market cap has added roughly $50 billion since yesterday and is up to $3.960 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto

The post HYPE Shoots Past $50 as BTC Price Eyes $112K: Market Watch appeared first on CryptoPotato.