Bitcoin Blasts Past $81K for First Time Since Mid-May
Bitcoin's price has been on a tear, blasting past $80,000 and $81,000 for the first time since mid-May. The asset outperformed many larger-cap altcoins, leading to an uptick in its dominance over the market.
The recent surge can be attributed to a combination of factors, including the US Treasury Department's announcement and the White House Crypto Summit. However, it's unclear which specific event triggered the price increase.
After gaining $15,000 in just a few days, BTC was due for a correction, which occurred over the weekend with a price slip to $75,500. Nevertheless, the bull returned with full force at the start of the new business week, pushing bitcoin to over $81,000 earlier today.
The market cap has risen to $1.6 trillion, and its dominance over alts has rocketed to 58% on CG and almost 60% on CMC after its latest run.