Bitcoin Eyes $24K, BNB Spikes to 2-Month High

After several days of sideways trading around $23,000, bitcoin finally started a move up toward $24,000.

Most altcoins are also well in the green today, with Binance Coin rising to a new two-month high, while FLOW has soared by double digits.

Bitcoin Target $24K

Ever since last week’s decline above $24,500, bitcoin was in some form of death. The asset had rebounded to $22,400, but spent most of the next few days around $23,000.

In fact, the weekend was pretty quiet, and bitcoin seemed stuck there. This came amid low trading volumes throughout Saturday and Sunday.

However, as the new week began with early Asian trading hours, BTC started to gain value and finally broke out of the consolidation area. It went up about $1,000 and made $24,000 where it stands now.

As such, its market cap has jumped over $450 billion and its dominance has regained some of its recently lost ground to just under 41%.

BNB sees new local peak

The altcoins were also pretty quiet over the weekend, but most are well in the green now.

Ethereum managed to regain $1,700 yesterday, and a minor daily increase has pushed the second largest crypto to around $1,750 now.

Binance Coin continues to chart new local highs. BNB is up over 5% in a day and is trading near $330 – the highest the asset has seen since early June.

Cardano has added a similar percentage, while Solana, Polkadot and Avalanche have increased by up to 10%.

From the lower and mid-sized altos, Chainlink and Flow have risen by double digits each.

The crypto market cap is up by around $40 billion in a day and is well above the $1.1 trillion level.