Bitcoin surged past $87K on ETF inflows before settling at $86K; altcoins including XRP and DOGE rallied as total crypto market cap reached $2.9 trillion.
Macro & Markets ·
Bitcoin climbed past $87,000 for the first time since late January following substantial ETF inflows before settling around $86,000, according to market data. Most altcoins tracked gains of comparable or greater magnitude, with XRP surpassing $1.50 and Dogecoin approaching $0.10. The total cryptocurrency market cap expanded by over 3.5% to $2.9 trillion.
The price action reversed negative momentum from earlier in the week. The CLARITY Act vote in the US Senate and a Federal Reserve interest rate increase had initially pushed Bitcoin down to $75,000. Recovery began Thursday and accelerated through Friday and into the following week, with the asset climbing back through $78,000, $80,000, and $82,000 before the sharp Monday rally.
The $87,000 peak marks an eight-month high for Bitcoin, though the pullback that followed is typical after a $7,000 single-day surge. Bitcoin's market dominance over altcoins stands above 59%, while gains were distributed unevenly across smaller tokens—several including SHIB, CRO, and TAO registered substantial increases, whereas MORPHO, RAIN, and UNI moved lower.