Market Status: Bitcoin surges to a two-week high

After several days of suffering and falling to the $16,000 region, Bitcoin finally took a leap and crossed the $17,000 mark for the first time in two weeks. Most altcoins were also in the green; Including Ethereum, which reached close to $1,300 with a growth of more than 4%.

After falling to a two-year low of $15,500 last week, the price of Bitcoin has rebounded and gained $1,000 in a matter of days, according to Crepito Potito. However, the price stopped in the $16,500 area on Sunday, just like last week.

With Bitcoin moving towards $16,000 on Monday (December 7), we saw the price drop again. However, the buyers continued to work and tried to maintain the price at that level and once again brought Bitcoin back to $16,500.

Bitcoin price started to rise today and managed to cross $17,000 for the first time in two weeks. Although the price of Bitcoin has now dropped slightly more than $100 and is just below this level, the on-chain data still shows bullish signs.

In the end, the market value of Bitcoin reached more than 320 billion dollars and its market dominance rate also increased to 38.1%. Since this index had decreased to 37.5% earlier in the week, these changes can be considered as a positive achievement.

Ethereum on the verge of $1,300

After the FTX crisis, Ethereum was one of the altcoins that suffered the most losses, falling from above $1,600 to below $1,100. Despite compensating part of this loss, Ethereum has not been able to experience significant growth like before the collapse.

The price of Ethereum has been hovering around $1,200 for several days in a row, but after a 4.27% increase overnight, it is currently near the $1,300 mark.

Ripple, Dogecoin, Cardano, Polygon, Polkadat, Litecoin, Shiba, OKB and Tron are also among the top altcoins in the market that experienced significant growth in the last 24 hours.

Binance Coin was one of the few altcoins that experienced a daily price drop. However, the price of this token is still above 300 dollars.

In general, the market value of digital currencies increased by nearly 20 billion dollars in one day, and this index is now above the level of 850 billion dollars.