After being below $90,000 for a week, which included a drop to under $81,000, Bitcoin has made a strong recovery, reaching nearly $92,000.

Its market dominance has risen, with few altcoins able to match its performance in the past 24 hours.

Bitcoin Approaching $92K

Bitcoin’s steep decline occurred over the last week, falling below $81,000 on Friday, marking its lowest price in almost seven months, reflecting a loss of over $25,000 in just ten days.

However, buyers stepped in to prevent Bitcoin from dropping below $80,000. The cryptocurrency rebounded to $84,000 over the weekend and started climbing again as the new trading week began. Still, it faced resistance around $88,000 and $89,000.

The breakthrough occurred last night as BTC surged past the crucial $90,000 level, continuing its ascent towards $92,000, achieving a weekly peak.

Bitcoin’s market cap has now reached $1.830 trillion, and its dominance over altcoins exceeds 57% after dipping below 56.5% earlier.

BTC/USD Chart BTCUSD. Source: TradingView

Altcoins Also Showing Gains

Many altcoins are following suit, with only a few outperforming Bitcoin. Ethereum has risen over 4%, surpassing $3,000. XRP is back at $2.20, while BNB, SOL, HYPE, LINK, and ADA have each gained around 3-4%.

Notably, AVAX and MNT have surged over 6.5%, while KAS has jumped by 21%, followed by FLR (11%) and SKY (10%).

The total cryptocurrency market cap has increased by more than $130 billion in just one day, reclaiming the $3.2 trillion mark.