Bitcoin continued to gradually increase in value in the past 24 hours and charted a three-week high above $22,000. Most altcoins are also well in the green, with ETH reclaiming $1,200 and XRP spiking by 7%.
Bitcoin’s New Local Peak
Ever since the untypically calm weekend, in which bitcoin stood primarily around $19,000 without any significant moves in either direction, things have been going well for the asset.
As the US national holiday (July 4) was coming to its end, the cryptocurrency started to gain value gradually. It firstly neared $20,000, challenged it, and ultimately broke above it as reported.
A day later, BTC jumped to a multi-day high of just under $21,000. However, the bulls kept the pressure on and pushed it further north. As a result, bitcoin went to a daily high of almost $22,500 hours ago, which is also the highest price position the asset has seen since mid-June.
Despite retracing by several hundred dollars since then, its market cap has soared above $400 billion, and its dominance over the alts is up to 43.2%.