Bitcoin’s recent price fluctuations were short-lived, as it surpassed a crucial resistance level, reaching $116,500 for the first time since September 19.

Numerous altcoins experienced substantial gains shortly thereafter, notably ZEC, PUMP, and PENGU.

BTC Surges Past $116K

Historically, Bitcoin’s value tends to decrease in September, especially toward the month’s conclusion. It fell from over $114,000 to below $109,000 around September 26, marking a multi-week low.

The support held firm, and Bitcoin traded below $110,000 through much of the weekend. On Monday, buyers propelled it above this threshold, reaching $112,500. After facing some resistance, it climbed closer to $115,000, then briefly dropped back under $113,000 before a breakout occurred shortly after the recent U.S. government shutdown.

Bitcoin’s ascent to over $116,500 minutes ago led its market capital to exceed $2.320 trillion on CG, commanding a dominant 56.7% share among altcoins.

Altcoins on the Rise

Many larger-cap altcoins have mirrored Bitcoin’s upward trajectory. Ethereum soared to $4,300 after a 4% increase, XRP reached above $2.90, while BNB remained significantly above $1,000. Other notable risers included SOL, DOGE, ADA, AVAX, HYPE, SOL, XLM, BCH, and SHIB.

Among the top 100 altcoins, ZEC surged over 40%, PUMP increased by more than 27%, and PENGU climbed by 12%.

The overall cryptocurrency market capitalization has jumped over $100 billion since yesterday, now standing at $4.1 trillion.