Bitcoin Surges Past $70K as Altcoins Like XRP, DOGE Rally

Bitcoin’s journey back above $70,000 marks a dramatic reversal from its recent lows. As detailed in the source report, the primary cryptocurrency had plunged to approximately $60,000 on February 6, representing its lowest price in over a year following a steep $30,000 decline over ten days. This level proved to be a critical support zone, awakening bullish momentum that catalyzed a rapid $12,000 surge to $72,000 within a single day. However, this peak established a formidable resistance level that Bitcoin struggled to overcome in subsequent sessions.

The asset entered a period of consolidation, trading between $68,000 and $72,000 before facing a mid-week rejection that drove its price down to $66,000 by Friday. The weekend, however, told a different story. A strong rebound unfolded, with Bitcoin climbing to $69,000 on Saturday and pushing past $70,800 on Sunday. Despite encountering some resistance at these elevated levels, Bitcoin has managed to sustain a position above the $70,000 threshold. This recovery has boosted its market capitalization to $1.410 trillion, though its dominance over the altcoin market has slightly receded to 56.5%, indicating capital rotation into other digital assets.

While major cryptocurrencies like Ethereum (ETH), Binance Coin (BNB), and Tron (TRX) exhibited relative stability, a cohort of altcoins embarked on impressive rallies. XRP and Dogecoin (DOGE) stood out with substantial double-digit gains. DOGE, the original meme coin, skyrocketed by 18% in a single day, a move potentially fueled by market reactions to an announcement from Elon Musk, pushing its price to around $0.115. Simultaneously, XRP surged by 11%, successfully reclaiming the $1.60 resistance level—a significant technical and psychological milestone for its investors.

The bullish sentiment extended to other established assets, with Cardano (ADA), Zcash (ZEC), and Stellar (XLM) also registering gains. However, the standout performer in this segment was PEPE, which soared by an impressive 25%, highlighting the heightened risk appetite and speculative fervor returning to certain corners of the crypto market. This broad-based altcoin strength underscores a market dynamic where investors, emboldened by Bitcoin’s stability, are seeking amplified returns from alternative cryptocurrencies.

Amid the widespread green candles, Pi Network’s native token, PI, delivered the most spectacular performance of the day. As reported, PI became the top performer across the entire cryptocurrency market, experiencing a breathtaking surge of over 35% at one point to breach the $0.20 level. Although the token subsequently lost some momentum and pared gains, it still concluded the period with a formidable 20% daily increase. This explosive move catapulted PI into the spotlight, demonstrating how specific project tokens can capture outsized attention and trading volume during market-wide rallies, often decoupling from the performance of larger-cap peers.

The collective momentum from Bitcoin’s recovery and the altcoin surge has had a tangible impact on the total market valuation. The global cryptocurrency market capitalization added a substantial $40 billion in a single day, now approaching the $2.5 trillion threshold. This aggregate figure, sourced from CryptoPotato’s market overview, serves as a clear barometer of returning investor confidence and capital inflow. The weekend’s activity paints a picture of a market transitioning from cautious consolidation to assertive bullish action, setting a dynamic stage for the trading week ahead.