Bitcoin’s price saw a notable surge in the last 24 hours, rising from below $102,000 to a high of over $106,500.

Several altcoins have followed suit, with XRP seeing a daily increase of 12%, pushing its price above $2.50.

BTC Surpasses $106K

The prior week was challenging for Bitcoin. It faced rejection at $111,000 on Monday, falling to below $104,000. After briefly reaching over $106,000, a bearish trend pushed it down to under $100,000 for the first time since June, hitting a low of close to $99,000 on Tuesday. A quick rebound was halted at $104,000, only for it to slide back down the following days.

On Sunday, after a promise from US President Trump of at least $2,000 in tariff dividends to many Americans, prices began to climb again. Bitcoin hit $104,000, and continued to rise through Monday morning, surpassing $106,000 to set a peak of just above $106,500, with a market cap now reaching $2.1 trillion. However, its dominance over altcoins has decreased to 57.5%.

BTCUSD BTCUSD. Source: TradingView

Significant Altcoin Gains

As Bitcoin’s dominance decreases during market recoveries, various altcoins have performed remarkably well. XRP has surged more than 12% within the last day, with a current price over $2.50. Ethereum regained the $3,600 mark with a 6.5% rise, while Solana approached $170, increasing by 7%.

Other tokens like ADA, HYPE, LINK, ZEC, BCH, and LTC have also seen considerable green numbers. The club of double-digit gainers has expanded to include APT, ENA, AAVE, XLM, HBAR, RENDER, UNI, PUMP, and WLFI, which led with a staggering increase of 31%.

Globally, the cryptocurrency market capitalization added $170 billion in a single day, rising to $3.680 trillion.