Bitcoin Surges Past $87.3K as Crypto Market Hits New High
The cryptocurrency market has continued its upward trajectory, increasing by 3.6% to $2.90T over the past 24 hours.
Since its low point in early August, market capitalization has risen by a significant 38%. However, the market has only just reached the support zone it had been trading from last November until the end of January this year.
The performance of altcoins has been varied, with signs of short-term profit-taking in certain coins. The top performers were Bitcoin Cash (+11.7%), Litecoin (+6.8%), and Ethereum (+6.4%).
Declines were recorded by Monero (−7%), Chainlink (−2.4%), and EOS (−0.4%).
The sentiment index has soared to 78, its highest level since July last year.
Bitcoin rose above $87.3K overnight, having pulled back to $85.5K at the time of writing.
Experts believe that Bitcoin has the potential to rise as high as $94K, but may spend several weeks in the $85K to $95K range before reaching its next target.