After the massive price fell below $ 59,000, bitcoin took off again and added almost $ 4,000 of value in hours. Most altcoins have stood behind once more, leading to another increase of BTC’s dominance.
BTC considering a new ATH?
The weekend started off on a positive note following reports that the very first Bitcoin futures ETF could go live in the United States this week. The primary cryptocurrency’s price went to a six-month high at nearly $63,000 as a result.
The scenery calmed down late Saturday and early Sunday before the bears returned to play and pushed the asset south. In a matter of hours, bitcoin lost several thousand dollars and dumped to below $59,000.
After this substantial correction, however, the situation changed again. BTC started to increase in value rapidly, added nearly $4,000, and neared $63,000 once again. After moving away from just 3% of its ATH of $ 65,000, bitcoin has retreated slightly and is hovering around $ 62,000.
Its market capitalization has increased above $1.150 trillion, while the dominance over the altcoins sits at 47% as most have failed to follow it north.
Altcoins Trail Behind BTC
It’s pretty common lately that most of the alternative coins haven’t been able to post the same gains as their leader. Ethereum took a swing at $4,000 during the weekend but failed early and has now retraced to just over $3,800.
Cardano, Ripple, Solana, Uniswap, Litecoin and Avalanche are also slightly in the red. In contrast, Binance Coin, Polkadot, and Dogecoin have charted minor gains on a 24-hour scale.
Stacks had the most impressive price increase among the Top 100 coins with a 22% increase. As a result, STX now trades above $2.5. Zcash and Shiba Inu follow with similar jumps of 8%.
The cryptocurrency’s market cap once again approached $ 2.5 trillion, after rising $ 30 billion in one day.
