Bitcoin Targets ATH Amid Expected Futures ETF (Market Watch)

Bitcoin Targets ATH Amid Expected Futures ETF (Market Watch)

After the massive price drop below $59,000, Bitcoin got back on track and gained almost $4,000 in value within hours. Most altcoins have lagged once again, leading to a further increase in BTC dominance.

BTC looking for new ATH?

The weekend started on a good note Reports that the first-ever Bitcoin futures ETF could go live in the US this week. As a result, the price of the primary cryptocurrency hit a six-month high of almost $63,000.

The landscape calmed down late Saturday and early Sunday before the bears came back to play and pushed the asset south. Within a few hours, Bitcoin lost several thousand dollars and fell below $59,000.

However, after this significant correction, the situation changed again. BTC began to rapidly rise in value, gaining almost $4,000 and once again approaching $63,000. After being just 3% away from its ATH of $65,000, Bitcoin has now retreated slightly and stands at around $62,000.

Its market cap has risen to over $1.150 trillion while dominance over altcoins stands at 47% as most have failed to follow it north.

BTCUSD. TradingView

Altcoins path behind BTC

It has been quite common lately that most alternative coins have failed to boast the same winnings as their leader. Ethereum rose to $4,000 over the weekend but failed early and has now retreated 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 recorded marginal gains on a 24-hour scale.

Stacks has seen the most impressive price increase of the top 100 coins with a 22% increase. As a result, STX is now trading above $2.5. Zcash and Shiba Inu follow with similar jumps of 8%.

The cryptocurrency's market cap once again approached $2.5 trillion, following a single-day rise of $30 billion.

Overview of the cryptocurrency market. Quantify Crypto.