Chainlink (LINK) Skyrockets 16% Daily, Bitcoin (BTC) Returns to $43K (Market Watch)

After a few days of consecutive declines, Bitcoin has finally reversed its price trajectory and has tapped $43,000.

Most altcoins are also well in the green today, with SOL reclaiming $100, ADA and AVAX shooting up by 4-5%, and LINK exploding by 16%.

BTC Back to $43K

The primary cryptocurrency went on the offensive after the local bottom charted last Thursday when it dumped to $38,500. It quickly returned to $40,000 and kept climbing over the weekend to $42,000.

After a brief hiatus, the asset started gaining traction once again at the start of the current business week. This culminated with a price surge to $43,750 on a few occasions, including such an attempt registered on Wednesday.

However, that was short-lived and BTC quickly retraced by nearly two grand. This came amid the latest US Fed announcement regarding its monetary policy. Nevertheless, BTC didn’t stay down for long and pumped above $43,000 hours ago.

As of now, the cryptocurrency trades around that level with a 2% daily increase. Its market capitalization has climbed above $840 billion, while its dominance over the alts stands at 51.1% on CMC.

LINK Steals the Show

Most altcoins slid yesterday but have turned green today. Ethereum and Binance Coin have gone above $2,300 and $300, respectively, after similar 2% increases. Solana has returned to $100 following a notable 5.5% daily jump.

AVAX and ADA have gained similar percentages, followed by Tron, Polkadot, Polygon, and others. Chainlink has stolen the show with a massive 16% surge. Consequently, LINK now trades at around $18. More impressive gains come from the likes of ICP and IMX.

The cumulative market capitalization of all crypto assets has gained $30 billion overnight and is back to $1.650 trillion on CMC.