Bitcoin Eyes $99K as Altcoins Produce Double-Digit Gains: Watch Recovery Weekend

After a few consecutive days of falling prices, bitcoin's path has finally reversed as the asset soared above $99,000 earlier today.

The altcoins are also in the green after the crash across the market, with many recovering with double-digit increases on a daily scale.

BTC will start Recovery Mode

The business week began on a very positive note for the major digital currency, as its price rose from around $101,000 to over $108,000 by Tuesday to mark an all-time high. While the community was expected to rise to $110,000, especially after Wednesday's rate cut in the US, the landscape took a sharp turn.

Instead of going further north, BTC started to go back hard. He first missed the $100,000 mark, but it was only the beginning, as the bears kept the pressure on. The destination ended on Friday when the cryptocurrency fell to a three-week low of $92,000, and the conversation turned to whether this was a normal correction or the end of the bull market.

So far, however, it seems that this is the first. Bitcoin stopped the free fall and bounced off quite impressively. Just earlier today, its price soared past $99,000 before decreasing to its current level of around $98,500.

Its market capitalization has recovered to $1.950 trillion, and its dominance over the alts is 54.6% on CG.

Last Altcoins See Green

The other coins suffered even more than BTC during the market-wide crash, as expected. However, they have now turned green on a daily basis after Friday's massacre. ETH fell to $3,300 but is now near $3,500 after a daily increase of 6%. XRP is back above $2.3 after falling to less than $2 on Friday.

BNB, SOL, TRX, and HBAR have each gained about 5-6% since yesterday. More dramatic price increases come from the likes of DOGE, ADA, AVAX, LINK, SHIB, TON, DOT, and many others, all of which jumped by double digits.

The total crypto market cap fell below $3.4 trillion yesterday but has now risen to over $3.550 trillion.