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Monday started on a positive note for bitcoin as it jumped to a new multi-month peak of $69,500 but failed to continue upward toward the coveted $70,000 level.
Some altcoins have charted gains over the past day, which has helped the total crypto market cap near $2.5 trillion for the first time since July.
BTC Still Can’t Touch $70K
The past week or so went quite positively for the primary cryptocurrency. It began with a price surge from $62,400 to $66,400 last Monday before the bulls and the bears collided on Tuesday in a move that resulted in massive $3,000 fluctuations.
However, the bulls turned out to be the winners of this battle and continued to push the asset north. The weekly culmination came on Friday when BTC touched $69,000 for the first time since late July.
The weekend was expectedly calmer, with bitcoin trading sideways around $68,500. However, it went on the offensive during the early Asian trading hours on Monday when it pumped to $69,500 to chart a new three-month peak.
Still, it failed to overcome that level and continue toward $70,000 and the subsequent rejection pushed it south by around a grand. Nevertheless, its market cap remains above $1.350 trillion, while its dominance over the alts has taken a major hit and is down to 54.5% from 55.1%.
Bitcoin/Price/Chart 21.10.2024. Source: TradingViewSOL Up 5.5%
The biggest gainer yesterday in the crypto industry was ApeCoin’s APE. The asset exploded by triple digits daily and soared to a six-month high of $1.7 before retracing to its current level of around $1.5. This came after a major development announced by the team.
Most alts are with minor gains today, with ETH soaring past $2,700 after a 3% increase. BCH, LINK, UNI, and ADA have marked similar price jumps, while SOL has emerged as today’s top performer from the larger-cap alts.
These gains have helped the total crypto market cap add around $35 billion overnight. The metric is now close to $2.5 trillion for the first time in about three months.
Cryptocurrency Market Overview. Source: QuantifyCryptoBinance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
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Cryptocurrency charts by TradingView.
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