Bitcoin’s price has shown signs of recovery, nearing the $90,000 mark after plummeting last week. Most of the larger altcoins have also registered slight gains, with Ethereum surpassing the $3,000 threshold once again.

Bitcoin Approaches $90K

The previous trading week brought excitement for those anticipating volatility in the markets, as Bitcoin dropped several thousand dollars, moving from $90,000 to just below $85,500. A subsequent spike was observed, sending Bitcoin back to around $90,000, but it faced rejection and dipped below $85,500 again.

Notably, better-than-expected US CPI figures caused a brief price increase, which was curtailed at $89,500 before a drop to $84,500, marking a multi-week low.

The bulls took charge again, pushing Bitcoin to recover around $88,000, where it has stabilized over the last few days. As of now, Bitcoin is close to the $90,000 level, its market capitalization reaching nearly $1.8 trillion, and its dominance over altcoins is now at 57.5%.

Ethereum Surpasses $3,000

Ethereum experienced a dip to $2,800 last week but bounced back to surpass $2,900 and finally reclaim the $3,000 mark today. Other cryptocurrencies, such as Binance Coin, are also performing well, while NIGHT has surged by 13% to $0.10.

In contrast, AAVE and CC faced significant losses of 11% and 21%, respectively. The total market cap across cryptocurrencies has seen a $30 billion increase, totaling approximately $3.120 trillion.