Bitcoin price suddenly rises to $124,000 and altcoins awaken

Bitcoin (BTC) has risen to $124,000, almost making up for yesterday’s crash. The recovery offers a lot of hope and altcoin investors are now daring to look at their portfolio again. Coins such as Ethereum (ETH), Ripple (XRP) and Solana (SOL) turn green again.

V-shaped recovery for BTC

Things have been up and down for Bitcoin today, but sellers have had little to say in recent hours. At around 6:00 PM, the orange coin was worth just over $122,000, but we can now add $2,000 to that.

This wipes out most of yesterday’s crash. Bitcoin went from $125,200 to $120,650, which represents a crash of about 3.5 percent. Now it only needs a jump of just over 1 percent to get back to par. Since yesterday’s bottom, the price has already managed to rise almost 2.8 percent.

This afternoon we wrote that recapturing $125,000 would be a big win. Only then would there really be a continuation of the upward trend and we can look forward to new records again.

But at least it’s a promising V-shaped recovery. We seem to find the supercharger on the other side of the ocean. The S&P 500, the index of the 500 largest American companies, has reached a new record and is more than 35 percent higher than six months ago. That enthusiasm seems to be spilling over into the crypto market.

ETH, XRP and DOGE are rising along with it

We are actually seeing green numbers on the altcoin market again. Other cryptos fell harder yesterday, but also had more difficulty recovering.

Most coins still have some work to do, but there is at least some profit movement now. Ethereum, for example, is 0.93 percent higher than yesterday, just above the important level of $ 4,500.

BNB (BNB), the third largest coin on the market since yesterday, is breathing down Bitcoin’s neck with a gain of 1.55 percent. XRP is up 0.86 percent, Solana up 1.04 percent and Dogecoin (DOGE) up 3.20 percent.