Bitcoin (BTC) Regains Strength Above US$ 93,000 Mark, Boosting Altcoin Market

Bitcoin (BTC) has once again gained strength in the market by surpassing the US$ 93 mark once again, marking the first significant increase

Bitcoin (BTC) price rose above the US$93 mark once again on Tuesday, marking the first substantial increase since the sell-off on March 4. In the last 24 hours, the cryptocurrency has appreciated by more than 8%, reaching US$93.900 during the afternoon (North American time).

BTC’s rally also boosted the altcoin market, highlighting the positive market sentiment. The total cryptocurrency market cap increased by over 7%, reaching approximately $2,95 trillion. The recent rally also led to significant liquidations of leveraged positions, totaling around $348 million, mainly associated with short positions.

Among the factors that helped bolster optimism were the new appetite of whales and the significant volume of net inflows recorded by spot BTC ETFs in the United States. This Tuesday alone, the sector totaled more than US$381 million in inflows, reinforcing the perception that the period of institutional retraction may be nearing its endpoint.

Moreover, the volume of open interest (OI) in futures markets also increased significantly. According to data from Coinglass, total OI in cryptocurrencies grew by around 13% in the last 24 hours, reaching US$120 billion. In the case of Bitcoin, OI increased by more than 16% and reached approximately US$69 billion, indicating greater activity from investors in futures contracts.

This Tuesday (22), the cryptocurrency market saw a significant movement in three assets that stand out among investors: Fartcoin (FARTCOIN), Sui (SUI) and Bonk (BONK).

Fartcoin, a humorous cryptocurrency launched on the Solana blockchain, appreciated 22,55% in the last 24 hours, reaching a price of US$1,13. With a daily trading volume of over US$450 million and a market capitalization of approximately US$1,13 billion, it ranks among the 70 largest crypto assets by market value.

In turn, Sui, a smart contract platform developed by Mysten Labs, saw a 21,99% increase in the same period, reaching a value of US$2,68. With a daily trading volume of US$1,43 billion and a market capitalization of US$8,69 billion, SUI is currently ranked 13th in the global cryptocurrency rankings.

Finally, Bonk, known as the “Dogecoin of Solana,” appreciated 21,75% in the last 24 hours, reaching $0,000015. With a daily trading volume of $262,9 million and a market capitalization of $1,17 billion, BONK is among the 65 largest crypto assets on the market.

These movements highlight the growing interest of investors in alternative assets in the cryptocurrency market, especially in a scenario of recovery and widespread optimism.