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Altcoins With Double-Digit Gains as Bitcoin Rocketed to 3-Month High: Market Watch
TL;DR
Bitcoin surged above $80,500 for the first time since January, ending a weekend slump. Most altcoins, including ETH and XRP, also saw gains, with ZEC, UNI, WLFI, and ONDO leading the larger caps.
Key points
- Bitcoin surged above $80,500 for the first time since January
- ETH approached $2,400 and XRP reclaimed the $1.40 level
- ZEC, UNI, WLFI, and ONDO are top performers among larger caps
WLFIONDO
Bitcoin’s weekend sluggishness came to an end on Monday morning with a notable price surge above $80,500 for the first time since late January.
Most altcoins are also in the green today, with ETH going close to $2,400 and XRP reclaiming the $1.40 level. ZEC, UNI, WLFI, and ONDO are the top performers from the larger caps.
BTC Jumped Past $80K
The previous business week also began with a price surge to $79,500 at the time, but it was quickly stopped, and BTC plunged to under $76,000 by Tuesday. More volatility ensued on Wednesday before and after the third FOMC meeting for the year as BTC jumped to $78,000 ahead of the event and dipped to under $75,000 once it concluded, and it became known that the Fed won’t change the rates.
Bitcoin rebounded in the following few days, especially on Friday, after reports that Iran had sent a new peace proposal to the US. BTC jumped to almost $79,000 before it was stopped after Trump rejected it. During the mostly quiet weekend, bitcoin pumped once again to $79,200 after another proposal was sent, but the same scenario repeated once Washington said no.
The cryptocurrency went on the run in the early Monday hours, rocketing past $80,000 for the first time since January 31. It touched $80,600 on some exchanges before it was stopped and now sits inches below $80,000.
Its market capitalization has climbed to $1.6 trillion, while its dominance over the alts stands tall at 58.5% on CG.
BTCUSD May 4. Source: TradingView
Alts With Double-Digit Pumps
Ethereum is up to $2,370 after a 2.6% increase today, XRP is up to $1.41, while BNB has neared $630. Solana has tapped $85, while DOGE is up by 4% to a local low of over $0.11. XMR has reclaimed the $400 resistance after a 4% jump. ZEC is above $410 following a notable 7.3% surge daily.
Q&A
What caused Bitcoin to surge above $80,500?
Bitcoin's price surge was influenced by market volatility and geopolitical events, including a new peace proposal from Iran to the US.
Which altcoins are performing well alongside Bitcoin's rise?
Altcoins such as ETH, which approached $2,400, and XRP, which reclaimed the $1.40 level, are among the top performers.
What were the price movements of Bitcoin leading up to the $80,500 surge?
Prior to the surge, Bitcoin fluctuated between $76,000 and $79,500, experiencing volatility around the FOMC meeting before rebounding.
