Shortly after the US government said it reached some sort of agreement regarding the debt ceiling, BTC jumped over a thousand to record a three-week high.
Altcoins are also in the green today, with ETH touching $1,900 for the first time since early May.
BTC soared to local spikes
Bitcoin has been trading sideways for most of last week as it has been stopped at $27,500 on a few occasions. The latter took the asset south hard as it fell below $26,000 for the first time in two weeks.
After recovering most of the lost value in the next day, BTC is back to its quite familiar range of $26,500 and $27,500. The start of the weekend was relatively stable as the cryptocurrency held at around $27,000.
It was not until early Monday morning that the outlook began to change. In news After the US government had finally reached an agreement on the debt limit, BTC jumped over a thousand and approached $28,500, which became its highest price since May 8.
Despite losing several hundred dollars since then, Bitcoin is still up more than 2% on the day. Its market capitalization has skyrocketed to $540 billion and its dominance over alternatives is up to 46.6%.
ETH taps $1.9K
Altcoins have also been heading north in the past 24 hours. Ethereum is among the most notable gainers in the top 10. ETH is up nearly 3% and hit $1,900 to mark its highest price in about three weeks.
Binance (2%) is close to $315. Ripple, Cardano, Dogecoin, MATIC, Solana, Polkadot, Litecoin, and Avalanche are also in green.
Most of the gains come from LDO and QNT. Both assets are up between 5 and 6%.
Overall, the total crypto market capitalization topped $1.170 trillion today, meaning it had added $30 billion daily and $70 billion in four days.
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