Featured News Headlines
Bitcoin and Ethereum Lead Crypto Surge: BTC Nears $94K, ETH Jumps After Fusaka
Bitcoin and Ethereum Lead Crypto Surge – The crypto market is buzzing with significant price movements as Bitcoin (BTC) continues its impressive rebound from the recent dip, surpassing the $94,000 mark briefly to hit a new multi-week high. Meanwhile, Ethereum (ETH) emerged as the biggest gainer among larger-cap altcoins, following the successful activation of its Fusaka upgrade, which sparked a notable rally.
Bitcoin’s Impressive Recovery
Bitcoin’s recovery from the sharp sell-off in late November has been nothing short of remarkable. After a brief stint under $84,000 at the start of December, many feared another breakdown. However, bulls quickly stepped in, pushing the price back above the critical $90,000 level. By mid-week, Bitcoin surged to $94,000, marking its highest point since November 17. Despite a slight retreat from that level, Bitcoin remains strong, holding a market cap above $1.860 trillion and commanding over 57% dominance in the cryptocurrency market, according to CoinGecko.
Ethereum Shines After Fusaka Update
The standout performance of the day came from Ethereum, which gained momentum after the successful activation of the Fusaka upgrade. The news sent ETH soaring by more than 5%, pushing it above $3,250 for the first time in three weeks. This rally marks a significant achievement for Ethereum, signaling confidence in the network’s continuous development and updates. While the overall altcoin market saw some gains, Ethereum stood out as the top performer.
Altcoins Show Mixed Performance
While Ethereum led the charge, other larger-cap altcoins showed mixed results. BNB, SOL, TRX, ADA, and HYPE all posted some modest gains, while XRP, DOGE, XLM, and BCH remained in the red. SUI, HBAR, and CC saw slight declines, with drops of up to 4%, while TAO surged by more than 8%, surpassing $310.
Total Market Cap Soars
The crypto market cap experienced a notable rise, adding around $40 billion in a single day, pushing it above the $3.260 trillion mark. This surge reflects the positive momentum in the market, fueled by Bitcoin’s recovery and Ethereum’s upgrade success.
