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The total crypto market cap jumped to $2.8 trillion, up 3.9% over the past 24 hours, as Bitcoin surged roughly 5% to break above $81,000, triggering a wave of short liquidations across the market.
Bitcoin Leads, But Altcoins Are Outrunning It
Bitcoin is trading at $80,958.93, up 5.6% on the day. Roughly $140 million in crypto shorts were liquidated within 60 minutes as BTC broke through the key $81,000 level.
But the bigger story today is how far altcoins are outpacing Bitcoin’s already strong move. Zcash is the standout, surging 17.7% in 24 hours and 20% over the week to trade at $943.48, with volume more than doubling to $750 million. XRP jumped 10% to $1.46, Solana climbed 6.3% to $104.63, Cardano rallied 12.7% to $0.2227, and Dogecoin gained 9.6% to $0.08981. BNB and Chainlink both rose more than 5.8%, while Hyperliquid added 4.4%.
Why Altcoins Are Catching Fire
Crypto trader Michaël van de Poppe pointed to a pattern now playing out in real time. When Bitcoin stalls within a range, momentum tends to rotate into altcoins, and the longer that range holds, the stronger altcoin outperformance tends to get. With Bitcoin now breaking decisively higher rather than stalling, that rotation appears to be accelerating rather than pausing.
Experts also pointed to broader altcoin market structure, arguing that the “OTHERS” category, altcoins excluding Bitcoin and Ethereum, is on the verge of breaking out of a large bullish pattern, calling it an early sign that the altseason is just getting started.
The rally caps what one market update described as crypto’s best month of 2026 so far. Bitcoin posted one of its strongest monthly performances of the year in August, while the combined market cap of the top 100 altcoins slightly outperformed it. However, the strength wasn’t confined to a handful of large-cap names, both average and median altcoin returns came in solidly positive for the month.
With Bitcoin breaking key resistance, over $140 million in shorts wiped out, and altcoins like Zcash, XRP and Cardano posting double-digit gains, today’s move looks like a broad-based rally rather than a Bitcoin-only rebound. If the current rotation pattern continues, traders will be watching whether altcoins keep extending their lead into the historically stronger months ahead.
Source: www.bitget.com