After a few days of stability, bitcoin finally made a significant move, increasing by $4,000. While BTC was just a few hundred dollars away from its all-time high of $67,000, ETH smashed its own record at over $4,800.
After failing to break beyond $64,500 at the start of the month, the major cryptocurrency has been largely flat in recent days. The bears grabbed control of the asset and progressively moved it south.
BTC has reached a low of $60,000, with the most recent drop being on Saturday. As previously reported, it regained some ground and consolidated around $62,000.
However, things have altered dramatically since then. Bitcoin had an incredible surge, adding more than $4,000 in value in only a few hours. This resulted in a price of $66,400 – the highest in three weeks.
Furthermore, BTC was less than 1% away from its all-time high of $67,000. It has already retraced a few hundred dollars but remains over $66,000.
Its market value has surged to $1.250 trillion, and its dominance over altcoins has increased by about 1% in a day to 43.5 percent.
While BTC has yet to set a new record, ETH has. The second-largest cryptocurrency had been stable in recent days, but it followed bitcoin higher today, setting a fresh ATH just short of $4,800. Despite a modest retracement since then, ETH is still 4.5 percent higher on the day.
Solana, Polkadot, and Terra are all marginally down, while Binance Coin has down 3.5 percent in the last 24 hours. BNB has been one of the strongest performers since the beginning of the week, rising by 20% on a 7-day basis.
Cardano (3%), Ripple (8%), Dogecoin (9%), and Chainlink (4.5%) have all made significant increases. Despite this, Avalanche is the most notable gainer, up 11.5 percent. As a consequence, AVAX has also reached a new ATH of $95.
More volatility is seen in Kadena (19%), OKB (15%), CRO (14%), KuCoin Token (12%), Loopring (11%), ICP ( 10%), and Bitcoin Gold (10 percent ).
As a consequence, the cryptocurrency market capitalization has surpassed $3 trillion for the first time, according to CoinGecko.