Zcash (ZEC) Explodes Past $800, Bitcoin (BTC) Reclaims $77K: Market Watch

Bitcoin’s price dip to $75,500 was short-lived, at least for now, and the asset has recovered two grand since then, trading at around $77,500 now.

There are several major gainers from the mid-cap alts, while the larger caps have produced more modest increases, such as ETH’s 2% jump.

BTC Above $77K

The primary cryptocurrency stood still for weeks and weeks before it finally exploded above the upper boundary at $65,000 last Wednesday. It flew to $70,000 within hours, faced a quick rejection, before it skyrocketed to $72,000 by Thursday morning.

The bulls kept the pressure on and initiated another leg up that culminated on Friday when bitcoin jumped to almost $80,000 for the first time in over three months. After gaining $15,000, the asset was primed for a correction, which took place during the weekend. As reported, it dipped to $75,500 as Wintermute built up a major short position.

However, the trend appears to have changed, and BTC started recovering some ground on Wednesday and Monday. Earlier today, it tapped $78,000 once again before it was stopped. Nevertheless, it still trades above $77,500 as of press time, up by over 21% since this time last Monday.

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