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Chainlink (LINK) Surges by 16%, Bitcoin (BTC) Reclaims $43K: Market Highlights

After experiencing a series of consecutive declines, Bitcoin has managed to reverse its downward trajectory and reach the $43,000 mark.

Several altcoins are also showing positive momentum, with SOL regaining $100, ADA and AVAX recording 4-5% increases, and LINK witnessing an impressive surge of 16%.

BTC Returns to $43K: Following a local bottom last Thursday, where Bitcoin dipped to $38,500, the primary cryptocurrency swiftly recovered to $40,000 over the weekend. The momentum continued into the current business week, resulting in a price surge to $43,750 on Wednesday. Although there was a brief retracement, BTC quickly rebounded, currently trading around $43,000 with a 2% daily increase. The market capitalization has exceeded $840 billion, and Bitcoin dominance over altcoins stands at 51.1% on CMC.

LINK Takes the Spotlight: While most altcoins experienced declines yesterday, today marks a reversal with Ethereum and Binance Coin surpassing $2,300 and $300, respectively, following 2% increases. Solana returned to $100 after a notable 5.5% daily jump. AVAX and ADA also recorded similar percentage gains, along with positive movements in Tron, Polkadot, Polygon, and others. Notably, Chainlink (LINK) stole the show with an impressive 16% surge, reaching approximately $18. Other notable gains were observed in ICP and IMX.

Overall, the cumulative market capitalization of all cryptocurrencies has increased by $30 billion overnight, reaching $1.650 trillion on CMC.

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