On Monday, Bitcoin’s unexpected price drop didn’t linger, as it surged nearly $10,000 to hit a two-week peak of $94,000.

The performance of altcoins has been even more remarkable, with the total market capitalization witnessing an increase of around $200 billion since last week’s low.

Bitcoin Climbs $10,000

Bitcoin successfully surpassed the $90,000 mark towards the end of the previous week after dipping below $81,000. Although it reached a peak of just over $93,000 on Friday before facing resistance, it managed to stabilize around $91,000-$92,000 over the weekend.

Nevertheless, the bears made a strong comeback on Monday, driving Bitcoin down to just under $84,000, marking a six-day low. But after losing $8,000 in mere hours, Bitcoin rebounded to $86,000 yesterday. The bulls then took over, pushing the price past $90,000 and eventually reaching $94,000 by Wednesday morning.

Despite falling from its peak, Bitcoin remains above $93,000, representing a 7.5% increase in just 24 hours.

The market capitalization has now risen to $1.860 trillion, with Bitcoin’s dominance over altcoins at 57.4%.

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Altcoins Experience Significant Gains

Crypto markets typically move in tandem with Bitcoin’s fluctuations, evident again in the past 24 hours. Ethereum surged past $3,070 after a notable 9.5% increase. XRP briefly soared beyond $2.20, posting an 8.5% gain.

Other altcoins such as SOL, DOGE, BCH, ADA, XLM, LINK, HBAR, and LTC also recorded impressive double-digit increases, with SUI stealing the spotlight by climbing 28% to $1.73.

The overall crypto market cap has skyrocketed by over $200 billion in one day, now totaling $3.240 trillion.