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BTC dominance at 3-month high
The latest developments in the US claiming that a Bitcoin ETF could be just around the corner pushed the cryptocurrency to $63,000 hours ago. Most altcoins have not followed their leader north, with BTC dominance hitting a nearly three-month high. Bitcoin came $2K away from ATH on October 13 – just three days ago – the primary digital asset had fallen below $55,000 after being rejected at the $58,000 level. The situation changed quickly in the following days and BTC headed north towards new multi-month highs. Bitcoin initially approached...
BTC dominance at 3-month high
The latest developments in the US claiming that a Bitcoin ETF could be just around the corner pushed the cryptocurrency to $63,000 hours ago. Most altcoins have not followed their leader north, with BTC dominance hitting a nearly three-month high.
Bitcoin came $2K away from ATH
On October 13th – just three days ago – the primary digital asset had fallen below $55,000 after being rejected at the $58,000 level. The situation changed quickly in the following days and BTC headed north towards new multi-month highs.
Bitcoin initially approached USD 58,000 again and was able to overcome this decisively after a few more attempts. That came in the middle Reports that a Bitcoin Futures ETF could come onto the market in the USA as early as next week.
While the Securities and Exchange Commission has yet to release an official confirmation of this, the rumors are reinforced on Friday, giving BTC another leg up.
This time, Bitcoin shot above $60,000 and continued to rise. This culminated hours ago when the asset was inches away from $63,000 – or about 3% from its April all-time high of $65,000.
BTC has pulled back a few thousand dollars so far, but is still well above $60,000 and its market cap is north of $1.150 trillion. Its dominance over altcoins has reached an almost three-month high of 47% as most of them lag behind.
BTCUSD. TradingView
ETH Eyes $4,000: DOT up 7%
As mentioned, most alternative coins have lost some ground against Bitcoin recently, but they are still in the green against the dollar. Ethereum had fallen below $3,500 days ago but is currently trading at almost $3,900.
Binance Coin (3.5%), Cardano (1.5%), Ripple (1%), Dogecoin (3.5%), Terra (1%) and Litecoin (4%) have seen some gains on a 24-hour scale. Polkadot has outperformed all others with a 7.5% increase to over $43. This came just days after the project was a huge hit notice in relation to its parachains.
Solana is the only top 10 coin with a significant price drop since yesterday with a 3% drop to below $160.
Overview of the cryptocurrency market. Quantify Crypto
Further gains from The Graph (17%), Amp (15%), NuCypher (10%) and ICP (8%) helped the crypto market cap briefly rise above $2.5 trillion. The metric was therefore also inches away from a new all-time high.
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