Bitcoin Climbs Back Above $60,000 as Crypto Market Cap Tops $2 Trillion

Bitcoin Climbs Back Above $60,000 as Crypto Market Cap Tops $2 Trillion

N
News Editor 01
2026-07-08 21:16:16
Bitcoin briefly rose to $61,222 over the weekend, helping lift the total cryptocurrency market above $2 trillion as ether, BNB, XRP, and other major tokens also posted gains.
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Cryptocurrency markets moved higher over the weekend, with bitcoin reclaiming the $60,000 level and the total value of the digital asset market climbing back above $2 trillion. According to the source report, bitcoin surged to an intraday high of $61,222 during early Saturday trading in Eastern Standard Time, bringing the asset close to the all-time high it had reached the month before. Although some of those gains later faded, BTC continued to trade above the $60,000 threshold and remained up more than 2% on the day, with a market capitalization of roughly $1.1 trillion.

The move in bitcoin coincided with a broader recovery across the crypto sector. Shortly after 1 a.m. EST on Saturday, the valuation of the entire crypto economy had risen by about 3%, according to the report. Depending on the market data aggregator cited, the total capitalization of the sector was estimated at between $2.033 trillion and $2.04 trillion. That rebound pushed the digital asset market back above one of its most closely watched psychological milestones.

At the time covered in the report, there were approximately 9,190 crypto-assets in existence. Among them, bitcoin remained the dominant force, accounting for about 55% of the market. That figure underscored BTC’s continued influence over broader sentiment, especially as its return above $60,000 helped reinforce bullish momentum across large-cap tokens.

Ether and Large-Cap Altcoins Join the Rally

Ethereum, the second-largest cryptocurrency by market value, also posted gains. The report said ETH was up around 3% on Saturday, with each token trading at approximately $2,144. Ether’s share of the total crypto market stood at 12.1%, making it the clear number two behind bitcoin.

Beyond BTC and ETH, several other major digital assets held significant positions within the broader market structure. The report identified BNB, USDT, and XRP as the other crypto-assets that each accounted for just above 2% or more of the total market valuation at the time. Their presence highlighted the concentration of value among a relatively small group of leading tokens even as thousands of other crypto-assets remained in circulation.

Among the notable movers, BNB recorded one of the stronger performances among top assets. Over a 24-hour period, the token advanced more than 7% to trade at around $478 per coin. XRP showed an even more dramatic move, rising about 20% against the U.S. dollar to reach $1.22. Those gains suggested that investor appetite was not limited to bitcoin alone, but had spread across other liquid large-cap assets as well.

Top-20 Tokens See Broad Strength

The rally was not confined to the market’s two biggest names. Other cryptocurrencies in the top twenty by market capitalization also posted meaningful advances. According to the source material, bitcoin cash (BCH) rose 2.8%, filecoin (FIL) gained 6.2%, stellar (XLM) advanced 9.2%, and vechain (VET) climbed 8% on Saturday.

That breadth of performance pointed to a market environment in which capital was flowing into a range of established crypto-assets rather than concentrating solely in bitcoin. When rallies broaden in this way, market participants often read it as a sign of improving confidence, though such conditions can also increase speculative excess in smaller and less liquid tokens.

Extreme Volatility Persists in Smaller Tokens

While major assets posted solid gains, the most dramatic percentage moves occurred among smaller and less prominent tokens. The report said the day’s biggest gainer was bit-z token (BZ), which soared by an extraordinary 16,448%. It was followed by electrify asia token (ELEC), which rose more than 200%.

On the downside, the biggest loser cited in the report was beetle coin (BEET), down more than 53%. Another major decliner was thrive token (THRT), which fell over 38%. These sharp swings illustrate a familiar feature of crypto trading: while large-cap assets can attract attention through headline milestones such as bitcoin returning above $60,000, the outer edges of the market often remain highly volatile and prone to outsized gains and losses.

Market Milestone Regains Focus

The return of the total cryptocurrency market above $2 trillion was one of the key themes of the weekend session. Psychological thresholds tend to matter in crypto because they shape sentiment, media coverage, and trader expectations. In this case, the market-wide recovery was reinforced by bitcoin’s move toward its prior record and by simultaneous strength in ether and several leading altcoins.

Still, the source report also showed that valuation estimates can vary slightly depending on the data provider used. Some aggregators placed the market at $2.04 trillion, while others showed a figure closer to $2.033 trillion. Even so, both estimates indicated that the market had crossed the $2 trillion line during the period covered.

Overall, the weekend action reflected a broad-based upswing in digital assets. Bitcoin’s push above $60,000 restored focus on its previous highs, ether maintained its role as the second-largest crypto asset, and tokens such as BNB and XRP delivered outsized gains among the majors. At the same time, the enormous moves in smaller-cap tokens served as a reminder that while market momentum had strengthened, volatility across the crypto ecosystem remained intense.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.
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