After underperforming for a few days, Bitcoin (BTC) returned on the green track, charting a substantial price increase on a 24-hour scale.
Leading altcoins, including Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Ripple (XRP), and more, have also recorded significant gains.
BTC Goes on the Offensive Again
The primary cryptocurrency performed quite shaky towards the end of the weekend and the start of this week, with its valuation briefly plunging below $91,000 on November 26. However, the bulls stepped in in the past 24 hours, pushing BTC to as high as $97,300 (per CoinGecko’s data).
Shortly after, the price headed south again, reaching the current $95,300. This represents a 2% increase on a daily scale and a solid 35% rise on a monthly basis.
BTC’s latest resurgence comes on the back of increased US consumer spending and inflation rate which remains above the Federal Reserve’s target of 2%. It will be interesting to see the central bank’s reaction to that development and whether it will affect the price of the leading digital asset.
Meanwhile, BTC’s market cap has risen to almost $1.9 trillion, while its dominance over the alternative coins is around 57%.
ETH Leads the Altcoin Charge
Some well-known altcoins have witnessed even more substantial pumps than the market leader. Ethereum (ETH), for instance, hit a six-month high of almost $3,700 amid increased spot Ether ETF inflows in the United States.
Binance Coin (BNB) and Cardano (ADA) are also among the gainers, registering 5% and 4% daily spikes. Other altcoins in green territory include Ripple (XRP), Shiba Inu (SHIB), Dogecoin (DOGE), and many more. Interestingly, Stellar (XLM), which has been among the frontrunners in the past several days, is one of the few seeing a minor decline today (November 28).
The total market capitalization of the cryptocurrency sector currently stands at $3.46 trillion, representing a 1.5% jump from November 27.
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Cryptocurrency charts by TradingView.
