After wading through a declining path for weeks, the crypto market and Bitcoin have suddenly entered another phase. The past few days have proved to be favorable for prices in the market. Almost all crypto assets are making impressive northward movements.
For the primary cryptocurrency, its moves to reclaim value are commendable. Bitcoin has reached the $20,000 region as it made more gains. In addition, the token finally closed a daily candle across the critical level.
Also, the altcoins are making significant progress with positive movements during the trading hours of the last few days.
Bitcoin Closes Daily Candle Above $20K
The $20K is one of the critical levels for Bitcoin. Over the past few weeks, BTC went down below this mark due to the solid bearish pull in the crypto market. But the leading crypto asset is gradually bringing back its value this week.
Bitcoin has finally closed a daily candle higher than $20,000 for the first time since September 17. This new feat strengthens the token positively, hovering between $18,000 and $24,000 for some months. Furthermore, this new position is the highest daily close for BTC in almost 24 days.
This recent price movement has stirred lots of participants in the crypto space. Many are watching to see the sustainability of BTC on this level.
At the time of writing, BTC is trading at around $20,247, indicating an increase of 0.44% over the past 24 hours. Its market cap has grown to $385.8 billion. Also, BTC’s dominance over the altcoins sits at about 40.19%, with a rise of 0.23% within the past day.
Most Altcoins Gained With GMX As Top Performer
The broader crypto market is feeling the bullish trend too. The altcoin has shown positive value reclaim within the past few days.
Most of the altcoins are in the green though some have not shown a massive increase in value over the past day. For the top 10 crypto assets by market cap, Dogecoin (DOGE) and Ripple (XRP) take the lead. They recorded about 6.2% and 3.6% gains in the values.
GMX, the native token of the GMX cryptocurrency, proved to be the top performer among the altcoins over the past 24 hours. The token amassed over 30% gain in its value. It is trading at around $55.27 at the time of press.
The performance of GMX could be in connection with the recent announcement from Binance to list the token in its innovative zone. However, EVMOS emerged as the top loser. The crypto lost more than 4% over the past day.
The impressive outplay of all the cryptocurrencies pushed the cumulative market capitalization to $960.13 billion. This figure shows an increase of about 0.34% over the past 24 hours.
Featured image from Pixabay and TradingView.com
