The cryptocurrency market began the week with strong momentum as several digital assets posted notable gains. Pepe emerged as the top performer of the day with a sharp 18 percent increase, followed by Bittensor, Polkadot, and Bonk.
After a relatively calm weekend despite ongoing developments in the Middle East, Bitcoin climbed on Monday morning to a six week high slightly above 74,000 dollars before encountering resistance.
Several alternative cryptocurrencies recorded even stronger performances. Ethereum moved back above the 2,200 dollar level, while Cardano briefly surged by around 10 percent.
Bitcoin Reaches a New Short Term High
The previous trading week began with downward pressure on Bitcoin as geopolitical developments pushed the asset to about 65,600 dollars. Buyers quickly stepped in and helped the market recover. By Wednesday the cryptocurrency climbed to around 68,000 dollars following the release of February inflation data from the Consumer Price Index.
After facing a slight rejection at that level, Bitcoin resumed its upward move on Friday and rallied again toward 74,000 dollars. This marked the second time in ten days that the asset reached that price zone, though it was again unable to break through the resistance.
Over the weekend the price slipped to just above 70,000 dollars amid new military strikes in the Middle East but managed to hold that level. When global financial markets reopened on Monday morning, volatility returned and pushed the cryptocurrency to another multi week peak above 74,000 dollars.
Although the price later retreated by roughly one thousand dollars, Bitcoin still shows a weekly gain of about 8 percent. According to data from CoinGecko, the asset’s market capitalization has climbed to around 1.465 trillion dollars, while its dominance over the altcoin market remains below 57 percent.
Altcoins Post Strong Gains
The broader rally has also benefited several major alternative cryptocurrencies. Ethereum, Solana, and Cardano recorded some of the strongest gains among large cap assets. Their prices increased between 6 percent and 8 percent, pushing Ethereum above 2,250 dollars, Solana past 90 dollars, and Cardano close to 0.40 dollars.
Other cryptocurrencies including Hyperliquid, Chainlink, Dogecoin, Monero, Avalanche, Litecoin, and XRP also recorded gains, though at a more moderate pace.
Among the strongest performers were Pepe with its 18 percent surge, along with Polkadot and Bittensor. Bonk, Shiba Inu, and Zcash also recorded double digit increases.
Overall, the total cryptocurrency market value added nearly 100 billion dollars within a single day, bringing the total market capitalization close to 2.6 trillion dollars according to CoinGecko.#crypto#cryptonews https://t.me/coinsignalpublic https://coinsignals.net
