Bitcoin Skyrockets Above $66K as Ethereum Tapped New ATH at $4,800 (Market Watch)


Following a few days of consolidation, bitcoin finally made a decisive move and shot up by $4,000. While BTC came inches away from its all-time high at $67,000, ETH actually broke its own at nearly $4,800.

Bitcoin Nears ATH

The primary cryptocurrency was relatively stable in the past few days after it failed to breach $64,500 at the start of the month. The bears took control and gradually pushed the asset south.

BTC bottomed at $60,000, with the latest such dip coming on Saturday. As reported yesterday, it recovered some ground and consolidated around $62,000.

Since then, though, the situation has changed a lot. Bitcoin registered an impressive leg up and added more than $4,000 of value in just a matter of hours. This culminated ti tapping $66,400 – the highest price line in three weeks.

Moreover, BTC came less than 1% away from its ATH of $67,000. As of now, it has retraced by a few hundred dollars but still stands above $66,000.

Its market capitalization has risen to $1.250 trillion, and the dominance over the altcoins is up by almost 1% in a day to 43.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH and AVAX See New ATHs

While BTC is yet to register a new record, ETH has done so. The second-largest crypto was also stagnant in the past few days, but it followed bitcoin upwards today and marked a new ATH at just shy of $4,800. Despite retracing slightly since then, ETH is still 4.5% up on the day.

Solana, Polkadot, and Terra are slightly in the red, while Binance Coin has lost 3.5% in the past 24 hours. BNB was among the best performers since the start of the week and is up by 20% on a 7-day scale.

Cardano (3%), Ripple (8%), Dogecoin (9%), and Chainlink (4.5%) have charted substantial gains. Nevertheless, Avalanche is the most significant gainer with an 11.5% surge. As a result, AVAX also tapped a new ATH at $95.

More fluctuations come from Kadena (19%), OKB (15%), CRO (14%), KuCoin Token (12%), Loopring (11%), ICP (10%), and Bitcoin Gold (10%).

As a result, the cryptocurrency market capitalization reached $3 trillion for the first time ever, at least according to CoinGecko.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.


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