bitcoin‘s Price Surges Above $35,000

bitcoin‘s price has successfully surpassed the $35,000 mark, which has been a significant target for the bulls in recent days.

Meanwhile, several altcoins are experiencing substantial gains in their charts.

bitcoin Reclaims $35K

bitcoin‘s price is currently surpassing $35,000 as it aims to regain this level. As of now, the cryptocurrency is trading around $35,100, marking an increase of approximately 0.8% in the last 24 hours.

Source: CoinGecko

It’s important to note that the bitcoin dominance has been declining for several consecutive days. This metric is commonly used to measure its share relative to the overall market. In simpler terms, it signifies that altcoins (as a whole) are outperforming bitcoin.

Altcoins Show Strong Performance

Most altcoins, including those with larger market capitalization, are performing well and seeing gains. The heatmap below demonstrates this trend.

Source: Quantify Crypto

Notably, ethereum‘s ETH and Binance Coin (BNB) are among the top-performing altcoins. ethereum is currently approaching $1.9K, while Binance Coin has risen by 3.9% in the past day.

Over the last 24 hours, MultiversX (EGLD) has been the standout performer, with a remarkable 46% increase. Following closely is ImmutableX (IMX), which has risen by 25% in the same period. PancakeSwap (CAKE) is also experiencing significant growth at 17.7%.

Solana is the least performing cryptocurrency of the day, with a decline of 2.4%. Most others are showing positive growth.

Overall, the industry has had a positive 24 hours, and it will be interesting to see if this momentum continues into the coming week.

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By Team