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Bitcoin (BTC) Touched $39K, Chainlink (LINK) Soars 7% Daily (Weekend Watch)


Bitcoin initiated another impressive leg-up in the past 24 hours that resulted in charting a new 19-month peak at $39,000.

Most altcoins followed suit, with SOL defending the $60 level, ETH remaining above $2,100, and ADA nearing $0.4.

BTC Tapped $39K

The business week started on a negative note as BTC slipped below $37,000 on Monday and failed to overcome that level on Tuesday morning. The situation started to change by the end of the day and, particularly on Wednesday, when it soared past $38,000 on a few occasions.

Choppy waters followed in the next few days until Friday arrived. The beginning of the last month of 2023 brought some more joy for the bulls, and bitcoin shot up by another grand and reached $39,000. This is a price tag the asset hadn’t seen since early May 2022.

Despite losing a few hundred dollars since then, the primary cryptocurrency stands close to that level, as the community anticipates a leg-up toward $40,000. These positive developments come after MicroStrategy’s latest multi-million dollar BTC purchase.

The current price tag means that bitcoin’s market cap has increased to almost $760 billion on CMC, and its dominance over the alts is back at 52%.

BTCUSD. Source: TradingView

LINK on a Roll

Most altcoins registered minor gains yesterday, and the landscape is rather similar now. Ethereum stands still at just inches above $2,100, while XRP is above $0.6. Binance Coin has slipped below $230, but Cardano has neared $0.4. Solana is up by 2% overnight and trades north of $60.

Dogecoin, Tron, Toncoin, and Avalanche have marked minor losses, while Polygon is up by 4% and has reclaimed $0.8.

Chainlink is the top performer from the larger-cap alts, having surged by more than 7%. As a result, LINK now trades above $15.

Other worth-mentioning gainers from the mid-cap alts include NEAR, RUNE, FIL, IMX, and KAS.

The total crypto market cap has increased by over $10 billion in the past 24 hours and is now at $1.460 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.



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