Bitcoin’s impressive rally initiated at the week’s start persisted over the last 24 hours as the asset climbed above $119,000 for the first time since mid-August.

Notably, numerous larger-cap altcoins have demonstrated remarkable growth recently, with significant increases from CRO and LTC.

BTC Targets $120K

Last week’s bearish trend appears to have faded from the cryptocurrency markets. Recall that just six days ago, Bitcoin’s price dipped below $109,000 after breaching the $112,000 support. However, buyers quickly countered this trend, preventing any further declines.

BTC traded largely sideways through the weekend but accelerated on Monday, jumping to almost $115,000. Following this surge, a minor correction saw it drop to $113,000. The cryptocurrency rebounded from this level, gaining momentum and overcoming the $115,000 threshold before skyrocketing to more than $118,000 yesterday and reaching $119,500 earlier today, establishing its highest price since August 15.

Despite some recent pullback, BTC is holding close to $119,000 at the time of this update. Its market cap has surged to $2.370 trillion on CG, with its dominance over altcoins remaining stable at 56.7%.

BTC/USD BTC/USD. Source: TradingView

ZEC Skyrockets

Most larger-cap altcoins are recording substantial gains today. Ethereum briefly surpassed $4,400 earlier today but is currently just below that mark. XRP touched $3 but has yet to decisively move past that threshold.

Dogecoin and Hyperliquid each surged by 6%. LTC soared to $120 following a 10% daily increase. CRO has surged above $0.22 after a 12% rise since yesterday.

Zcash has emerged as the standout performer of the day, gaining over 60% in value since yesterday and more than 140% over the week, trading now near $250.

The total cryptocurrency market cap has grown to $4.175 trillion on CG, having increased by more than $200 billion since Monday.