Bitcoin Soars Beyond $100,000, Ethereum Eyes $4,000: Market Watch

After weeks of failing to challenge the $100,000 line, the price of bitcoin finally soared above this coveted level, marking a new all-time high.

Several altcoins have followed suit, including ETH, which has broken above $3,900.

BTC finally crosses $100,000

It’s been a wild ride since Donald Trump won the US election exactly one month ago. The main cryptocurrency hovered around $68,000 at the time, but immediately began to rise in value. It surpassed its all-time high in March and continued to climb in the following weeks to reach a high of $99,800 on November 22.

After coming within inches of entering six-digit territory, the bears finally came out to play and drove a massive leg down that pushed BTC below $91,000 a few days later. However, the bullfight remained unchanged and resumed in the following weeks.

Just yesterday, bitcoin went from $95,000 to $99,000, and earlier this morning, it finally broke through the six-digit milestone. Moreover, it continued to rise and hit a new all-time high of $103,500.

Although now trading just below $103,000, BTC’s market cap has soared to $2.03 trillion in CG. Its dominance over the highs has increased to 52.7% after losing some traction over the last week or so.

Bitcoin/Price/Chart 5.12.2024. Source: TradingView ETH on the rise

Ethereum has remained relatively out of focus due to other massive gains in recent weeks, including XRP, DOGE, as well as BNB and TRX recently. However, the second largest cryptocurrency is making gains again and has crossed $3,900 after a daily increase of 5.5%.

DOGE, SHIB, BCH, DOT, SUI and CRO are the other notable price gainers from the larger cap highs. In contrast, BNB, TRX, AVAX, XLM, HBAR and TON are down today, and so is XRP, which is somewhat surprising given Trump’s pick for the next SEC chair.

However, the total crypto market cap hit a record high of $3.850 trillion at CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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