Bitcoin (BTC) Skyrockets to 8-Month High Above $84K as Altcoins Mark Big Gains: Market Watch

Despite last week’s developments and the escalating tension in the Middle East, as well as on the Russia-Ukraine front, bitcoin’s price rebounded from the dip to $80,000 and surged past $84,000 earlier today for the first time since the end of January.

The altcoins are in the green as well, with ETH touching $2,700 earlier today and XRP bouncing to $1.45. XMR, NEAR, and AVAX have posted the most gains among the larger caps.

BTC Sees New 8-Month High The previous week didn’t go well for the primary cryptocurrency, at least on a macro level. On Tuesday, the US Senate voted against advancing the key CLARITY Act.

A day later, the US Federal Reserve hiked interest rates for the first time since July 2023. BTC reacted to both developments with expected volatility, dipping to a multi-week low of $75,000. However, it rebounded swiftly by Friday when it surged past $80,000.