Altcoins Surge as Bitcoin (BTC) Stabilizes After New All-Time High
Bitcoin stabilizes around $75,000 after hitting a new all-time high, while Ethereum and various altcoins see significant double-digit gains.
Bitcoin reached a new all-time high of approximately $76,500 earlier today but has since settled around $75,000.
Bitcoin's Recent Performance
Bitcoin's journey this week has been historic, marked by significant fluctuations. After dropping below $67,000 earlier in the week due to election anxieties, Bitcoin rebounded dramatically following the initial election results. It surged from $67,000 to over $75,000, breaking its previous all-time high of $73,737.
In the past 12 hours, Bitcoin peaked at $76,500 on Bitstamp before losing some momentum, currently sitting at around $75,000, reflecting a 4% increase for the week. Its market capitalization exceeds $1.480 trillion, although its dominance over altcoins has decreased to 56.2%.
Ethereum and Other Altcoin Gains
Ethereum has finally shown significant movement, surging by 8% and surpassing the $2,800 mark for the first time in three months. Other notable gainers include XRP, ADA, LINK, and AVAX, while DOGE has experienced a slight decline of nearly 4%.
Several altcoins have seen impressive price increases, including:
- ENA: 32%
- RAY: 30%
- NEIRO: 22%
- LDO: 20%
- AAVE: 15.5%
- PEPE: 11.5%
The total cryptocurrency market capitalization has increased by $50 billion overnight, reaching a multi-month high of almost $2.650 trillion.
What's Your Reaction?
