Bitcoin, the largest cryptocurrency by market cap, managed to reclaim the $37,000 level earlier today, spiking to an intraday high of $37,282 at 5:28 p.m on the Bitstamp exchange.
It has now rebounded about 7 percent from its intraday low of $34,783.
Earlier this week, Bitcoin revisited the $38,000 because of El Salvador voting to adopt the largest cryptocurrency as legal tender, a decision that has likely marked the dawn of cryptocurrency geopolitics. However, the top crypto trimmed most of its recent gains during a sell-off on Saturday.
When it comes to the top altcoins, none of them have managed to recover together with the king. This, of course, resulted in a substantial spike in Bitcoin dominance, which is now approaching 45 percent.