Bitcoin Price Maintains $93K, Ethereum Hits 3-Week High: Market Watch

TAO is today’s top performer, followed by ZEC.

Bitcoin’s impressive rebound following the Monday crash continued in the past 24 hours as the asset briefly exceeded $94,000 to mark a new multi-week peak.

Ethereum has popped up as the biggest gainer from the larger-cap alts after the successful activation of the Fusaka upgrade.

BTC Tapped $94K

Following the brutal sell-off in the middle and late November, the primary cryptocurrency managed to recover a portion of the losses at the end of the month and surged past $90,000. However, December started with a bang in the opposite direction once again, as the asset plunged by several grand to under $84,000 on Monday and Tuesday morning.

The bulls, though, were quick to intercept this move and didn’t allow another breakdown. Just the opposite, BTC started to recover ground rapidly and was soon trading above $90,000 once again.

On Wednesday and Thursday morning, it managed to exceed $94,000 for the first time since November 17. However, that level has turned out to be a very high mountain to climb for now, and bitcoin now trades below that line.

Nevertheless, its market cap remains above $1.860 trillion, while its dominance over the altcoins is just over 57% on CG.

ETH Jumps After Fusaka

Perhaps the most notable development in the cryptocurrency industry yesterday was the successful activation of the Fusaka update for Ethereum. Once it went live, the underlying asset started rallying, jumping by over 5% at one point to more than $3,250, which became a three-week peak.

The rest of the larger-cap alts are a lot more sluggish, with BNB, SOL, TRX, ADA, and HYPE posting some gains, while XRP, DOGE, XLM, and BCH are trading in the red. SUI, HBAR, and CC have dropped by up to 4%, while TAO has rocketed by more than 8% and sits above $310 as of now.

The total crypto market cap has added around $40 billion in a day and is above $3.260 trillion.