It took precisely a month, but bitcoin finally breached its previous all-time high yesterday and hasn’t looked back since. However, its dominance continues to decline as most altcoins have surged even more, with Ethereum touching $2,400 and XRP closing down to $2.
The primary cryptocurrency seemed stuck beneath $60,000 for a while. Most attempts to break above it were met with violent rejections that drove its price south. However, the situation changed in the past few days as BTC finally reconquered its nemesis.
After standing above $60,000 for a day or two, the community speculated on when the next leg up will arrive, taking the asset to new highs above $61,800.
As reported yesterday, that day came precisely a month after setting the previous record. Bitcoin spiked above it and continued further north. The cryptocurrency marked a new ATH at over $63,700 yesterday but didn’t stop there.
Just a few minutes ago, another run-up drove bitcoin to its latest all-time high of just shy of $65,000 (on Bitstamp).
Naturally, this impressive performance impacted BTC’s market cap as well, which went for a record of its own at over $1.2 trillion. Nevertheless, the asset’s market dominance has suffered and has dropped to 53.5% as the altcoins are even deeper in green.
BTCUSD. Source: TradingView
As mentioned above, green dominates the altcoin charts. Ethereum leads the pack with a substantial 9% increase. Furthermore, the second-largest cryptocurrency marked a new ATH of its own as well at about $2,400.
Ripple has surged by over 20% to nearly $2, a new 3-year high for XRP. Cardano went for a new record as well, following a 15% increase to over $1.5. Binance Coin (3%), Polkadot (8%), Uniswap (2.5%), Litecoin (10%), and Stellar (9%) have also jumped higher.
Cryptocurrency Market Overview. Source: Quantify Crypto
Nevertheless, the most significant gainer in the past 24 hours is Dogecoin (70%). DOGE has surged to a new ATH of about $0.13.
IOST (25%), EOS (22%), THORChain (21%), Bitcoin Cash (20%), VeChain (19%), Bitcoin SV (17%), TRON (16%), Polygon (15%), and Qtum (13%) follow.
Ultimately, the cumulative market cap of all crypto assets also saw a new record of well over $2.250 trillion. As such, the crypto market capitalization surpassed that of the world’s most valuable company – Apple.
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