Bitcoin Surge Triggers Market-Wide Altcoin Rally

Bitcoin's price surged past $87,000 for the first time since January 30, triggering a market-wide rally in altcoins. Ether (ETH) rose 6% to $2,770, its highest point since the end of January.

The surge in bitcoin's price, combined with rising volume and short liquidations, helped drive up the prices of several high-cap altcoins, including BNB, XRP, and DOGE. BNB surpassed $800 for the first time since late January, reaching a peak of $806 before fluctuating between $796 and $806.

Other notable gainers included XLM, SUI, and TAO, which rose 11%, 15%, and 19% respectively. However, some altcoins trended lower, including Zcash (ZEC), NEAR, RAIN, and ENA.