Bitcoin experienced a decline exceeding eight grand recently but managed a comeback, reaching a peak of $110,000 earlier today.

The Binance Coin is on a rise with a 4% gain, now exceeding $1,100, while other major altcoins have displayed slow performance, except for HYPE which boasted an impressive growth.

Is Bitcoin Set to Hit $110K?

After the previous week concluded with Bitcoin falling below $104,000, swift action from the bulls prevented a further dip beneath $100,000, allowing Bitcoin to bounce back to $107,000 by the weekend.

This new trading week has started on a positive note, with Bitcoin surging to $111,000 on Monday. After a minor dip below $108,000, it aggressively climbed to $114,000 on Tuesday.

However, this was short-lived as Bitcoin quickly lost momentum and dropped to $106,200 by Wednesday. Despite failing to maintain its previous high, Bitcoin has successfully achieved $110,000 today, now standing over $109,000, maintaining a market cap of $2.18 trillion with altcoin dominance reaching 57.5%.

HYPE’s Impressive Surge

The market shows a slight green trend for larger-cap alts, lifting while many have gained around 2%, with notable performances from ETH, XRP, SOL, DOGE, ADA, XLM, and BCH. BNB also rose about 4% reaching above $1,100 while XMR and MNT enjoyed a 6% valuation increase each.

Meanwhile, HYPE has taken the spotlight with an astonishing 11% increase, hitting a multi-day high of just over $39 following Hyperliquid Strategies’ filing of an S-1 with the US SEC, aiming to raise up to $1 billion to repurchase its token.

The overall cryptocurrency market cap has risen by nearly $40 billion today, nearing $3.8 trillion.