The bitcoin price zoomed across the psychologically-crucial $8,000 mark as the flagship cryptocurrency continued to claw back the losses it incurred during the recent market downturn.
Bitcoin Price Zooms to Four-Day High
Bitcoin had languished below $8,000 for much of the past three days, following a brutal correction that smacked BTC/USD as low as $7,432 on Bitstamp, more than 18 percent off the year-to-date peak of $9,096 it set on May 30.
However, shortly after 12 pm ET, the bitcoin price began to trend upward, and at 12:16 it eclipsed the $8,000 mark. That triggered another small bump, and by the time of writing, BTC had popped as high as $8,100 to post a four-day high and pump its market cap up to $143 billion.
Other top cryptocurrencies enjoying bullish pivots included litecoin (+15.19%) and tezos (+14.84%), though most coins gained close to 5% over their previous-day levels.
Altogether, the crypto market cap rose to $258.7 billion.