Bitcoin Price Eyes ATH as Dogecoin (DOGE) Soars 15% Daily – Market Watch

The cryptocurrency market has risen substantially in the past 24 hours, with a total market capitalization reaching $2.5 trillion. This is due to the overall gains. Notably, the price of BTC soared above $71,000 as bulls are now eyeing a new all-time high.

Bitcoin Bulls Eye All Time High

The price of Bitcoin skyrocketed in the last 24 hours. What is interesting is that over the last day, 12 hourly candles in a row closed in the green, accelerating the cryptocurrency and bringing it much closer to its all-time high.

At the time of writing, BTC is trading above $71,000, a point last seen in June of this year. Buyers seem eager to hit a new high.

This move comes just days before the next US presidential election, which is scheduled for next week, on November 5.

Source: TradingView

While both candidates have shown some support for the industry throughout their campaigns, Donald Trump’s has been much more pronounced. He even went so far as to say that he might remove taxes and impose tariffs on tokens developed in the US. In any case, the outcome of the election will surely affect the market.

Dogecoin Leads Altcoin Rally

The vast majority of altcoins are well in the green today. Large-cap cryptocurrencies such as ETH, BNB, SOL, XRP, LINK, APT, TAO, ICP and others are posting gains of 1% to 5%.

The best performer, however, is Dogecoin, the godfather of meme coins. DOGE exploded around 15% at one point, an outstanding performance not only among altcoins but also among the entire market.

Source: Quantify Crypto

In all fairness, other meme coins work pretty well too. PEPE is up more than 6%, while the cat-themed market leader POPCAT is also up more than 12% in the last day.

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