Bitcoin Price Just Broke $58,500 Setting New All-Time High

Less than a month after painting its previous all-time high on February 21st, Bitcoin has done it again. The cryptocurrency just surged past it and charted fresh highs. As of writing these lines, Bitcoin is trading above $59,000 according to Bitstamp.

• The last month was quite the roller coaster in the cryptocurrency market, and it had many people question if the bull-run had come to its end.
• Apparently, that’s not the case, as BTC price has been on an absolutely epic streak over the past week, painting green daily candles one after another.
• The cryptocurrency managed to surge past its former ATH that we saw back on February 21st in a seventh consecutive daily green candle.
• At the time of this writing, the price is trading at $59K, which is a 24-hour increase of 4% and a weekly increase of 18% according to CoinMarketCap.

BTC/USD, Bitstamp. Chart by TradingView

• Bitcoin’s market cap sits well over $1 trillion, while the cumulative capitalization of the entire market is currently at around $1.76 trillion.
• BTC’s dominance is around 61.5%, up almost 2% in the past few days.
• This signals that the primary cryptocurrency is giving little to no breathing room to altcoins to capitalize on the leg-up, at least relative to Bitcoin.