Double- and Triple-Digit Gains for These Altcoins as Bitcoin Flirts With $120K: Market Watch

Bitcoin was stopped yesterday ahead of its all-time high, but has managed to recover some ground following the US CPI announcement for July.

Many altcoins have marked mindblowing gains over the past day, including OKB, which has skyrocketed by triple digits since yesterday.

BTC Bounces to $120K

Bitcoin’s price actions in the past few days have been rather notable, even though most altcoins have outshone it. Just last week, the cryptocurrency struggled to remain above $113,000 after a dip below that level.

However, the bulls went on the offensive in the following days, pushing the asset firmly above $115,000. Moreover, they kept the pressure on at the beginning of the current business week as BTC jumped to a monthly peak of just under $122,500 (on Bitstamp).

Thus, bitcoin was less than a grand away from tapping a fresh all-time high. However, the bears reemerged and didn’t allow a new record to be set. In fact, BTC slipped to $118,000 yesterday as the US CPI numbers came out.

However, it managed to defend that level, and bitcoin now flirts with $120,000 once again. Its market cap has neared $2.4 trillion on CG, while its dominance over the alts keeps taking hits and is under 58% now, which sparks speculations of an altseason.

OKB Flies

Although many altcoins have posted notable gains over the past day, none is close to OKB’s surge. OKX’s native token has shot up by 130% on a daily scale to a new all-time high above $135 registered just hours ago. Despite losing some ground since then, OKB is still within a triple-digit price territory.

Far behind are alts like GT, CRV, and PUMP, which are up by 13%-15%. SOL, DOGE, and ADA have also surged by double-digits from the larger-cap alts. Ethereum has neared its 2021 all-time high after soaring past $4,600.

The total crypto market cap keeps pumping and has risen to $4.160 trillion on CoinGecko.