BTC Maintains Strong Position Above $34,500
Bitcoin has responded positively to a minor retracement and continues to trade well above the $34,500 mark.
In the past 24 hours, altcoins have experienced even greater gains, resulting in a $20 billion increase in the total market cap.
BTC Sets Sights on $35K
Bitcoin has been performing exceptionally well in recent days. Over the weekend, it reclaimed $30,000 and continued its upward momentum.
On Monday and Tuesday, Bitcoin surged by $4,000 within hours, reaching its highest price in 17 months at $35,200.
Although it briefly dipped to $33,200 after the BlackRock ETF frenzy, the decline was short-lived. Bitcoin is once again approaching the $35,000 level.
The cryptocurrency’s market cap has risen to nearly $680 billion, with dominance over altcoins at just under 53%.
SHIB and DOGE Experience Significant Gains
The altcoin market is also seeing a surge in green. Ethereum has outperformed Bitcoin with a daily gain of 4.4%, pushing its price to $1,850.
Binance Coin, Ripple, Tron, Toncoin, Chainlink, and Litecoin have all seen gains of up to 3-4%.
Notably, Dogecoin and Shiba Inu—the popular meme coins—have experienced a significant pump of 10-11%. Avalanche’s native token has also increased by a similar percentage and now sits above $11.
The total crypto market cap has grown by approximately $20 billion overnight and is now close to $1.3 trillion.
Hot Take: Bitcoin’s Surge Continues with Altcoins Following Suit
Bitcoin’s recent surge has not only solidified its position above $34,500 but has also propelled it towards the $35,000 mark once again. This upward momentum has contributed to a $20 billion increase in the total market cap, with altcoins experiencing substantial gains.
Ethereum has outperformed Bitcoin on a daily scale, while meme coins like Dogecoin and Shiba Inu have seen significant pumps. The overall crypto market cap continues to climb, reaching close to $1.3 trillion.
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