HYPE Explodes by Double Digits, BTC Price Hits $110,000: Market Watch

COAI is also on the rise today, up 42%.

Bitcoin’s price has fallen by more than $8,000 from top to bottom in recent days, but has managed to recoup some of the losses and touched $110,000 earlier today.

Binance Coin has resumed its recent bull rally, with a 4% increase that has taken the price above $1,100. Most other alts with larger market caps are sluggish, apart from HYPE’s impressive rise.

BTC to challenge $110K?

The primary cryptocurrency ended last business week with another decline, this time to below $104,000. However, the bulls reacted quickly and did not allow a possible drop below $100,000, and BTC bounced back to $107,000 over the weekend.

The new business week started on a more positive note, with BTC rising to $111,000 on Monday. After a correction below $108,000, the asset went on the attack on Tuesday and shot up to $114,000 within a few hours.

However, that turned out to be a fake-out and BTC lost all momentum almost immediately. Moreover, it fell to $106,200 on Wednesday (on Bitstamp).

The country has responded well to this correction and even touched $110,000 earlier today. Although it has failed to regain that level, it is now above $109,000. The market cap remains stable at $2.180 trillion, with dominance over CG alts at over 57.5%.

HYPE rockets

Most large caps are now slightly in the green, with gains of up to 2%, including ETH, XRP, SOL, DOGE, ADA, XLM and BCH. BNB is up almost 4% and trading above $1,100, while XMR and MNT have each added 6% in value.

HYPE stole the show with a whopping 11%, pushing it to a multi-day high of just over $39. This came after Hyperliquid Strategies filed an S-1 with the US SEC to raise up to $1 billion to buy back its own token.

The total cryptocurrency market cap has added about $40 billion in a day and is almost $3.8 trillion on CG.