Bitcoin’s impressive climb over the weekend pushed its price close to the $70,000 mark, following a significant dip earlier this year. The price surged by about 20% following its recent all-time low following several weeks of stagnation in the market.

Bitcoin Approaching $70K

The recent price spike follows a situation where Bitcoin faced resistance just below the $70,000 threshold after bouncing back from a low of $60,000 reported in February. Despite hovering around $68,000 to $72,000 for a few days, the momentum shifted positively, leading to a surge to nearly $70,000 over the weekend.

In the altcoin market, Ethereum has shown resilience and climbed back to approximately $2,100 after a notable recovery. Other altcoins, notably Zcash and Solana, have also registered increases of up to 20% and 7.3%, respectively. Pi Network, after hitting a low recently, recorded an 18% increase over the last few days, raising questions about its potential upward trend.

Total Market Cap

The cryptocurrency market capitalization has seen a boost of about $100 billion, positioning itself at around $2.455 trillion. Bitcoin maintains a dominant position, representing approximately 56.7% of the total market share.

BTCUSD Feb 14. Source: TradingView

Cryptocurrency Market Overview Daily Feb 14. Source: QuantifyCrypto

As major cryptocurrencies are on the rise, it remains a pivotal time for investors and market watchers alike.