Bitcoin Reclaims $78K as Crypto Market Continues Upward Trend
Bitcoin's price has been on an upward trend since Friday's dip below $77,000, and it has now reclaimed the $78,000 mark. The asset had surged from under $65,000 to $80,000 in just two days earlier this month but was stopped at that point. It slipped below $75,500 last weekend but regained momentum during the business week, pushing beyond $80,000 and even $81,000 on a couple of occasions. On Thursday morning, BTC reached $81,500 for the first time in 15 weeks, but its ascent was halted, and it retraced hard to under $77,000 by Friday. Since then, however, it has managed to reclaim some ground, rising above $77,000 yesterday and up to $78,150 as of press time on Sunday morning.
The cryptocurrency's market capitalization has increased by roughly $15 billion in a day and is now at $1.570 trillion on CoinGecko. Its dominance over the alts is also on the rise, touching 58% on the same data aggregator.
Most larger-cap altcoins have posted minor gains, but ETH remains below $2,500, BNB is still beneath $700, and XRP keeps fighting for $1.40. Pi Network's native token, however, has managed to defend its critical support at $0.09 and now trades above $0.091.