These highs rise by double digits as Bitcoin (BTC) calms down after a new all-time high (Market Watch)

Bitcoin soared to another all-time high of around $76,500 earlier today, but has lost some traction and is now hovering around $75,000.

Altcoins took center stage today as Ethereum surged 8% to break above $2,800 for the first time in months, while PEPE and AAVE enjoyed double-digit gains.

BTC cools down

It’s only Thursday, but this week has already become historic for the cryptocurrency markets. Bitcoin rallied strongly on Monday, falling below $67,000 in anticipation of the US presidential election. This meant that the asset had lost more than five thousand in less than a week.

However, as the first election results began to appear on Tuesday evening and especially on Wednesday morning, the cryptocurrency went on a wild run, jumping from $67,000 to over $75,000. Thus, it surpassed its March all-time high of $73,737 and charted a new one.

It calmed down during the day but went back on the offensive in the last 12 hours and jumped to $76,500 (on Bitstamp) to set a new peak. It has lost some traction since then, currently around $75,000, but is still up 4% weekly.

Its market capitalization stands at over $1.480 trillion, while its dominance of the highs has taken a hit, falling to 56.2%.

Bitcoin/Price/Chart 7.11.2024. Source: TradingView ETH Awakens

Ethereum was among the more modest performers yesterday, but has finally woken up with an 8% increase. This means the second largest crypto has risen to a three-month high above $2,800. XRP, ADA, LINK, and AVAX are the other notable gainers in the larger-cap alternatives, while DOGE is down nearly 4%.

The most substantial price increases come from the likes of ENA (32%), RAY (30%), NEIRO (22%), LDO (20%), AAVE (15.5%) and PEPE (11.5%).

The total crypto market cap added another $50 billion overnight and stands at a multi-month high of nearly $2.65 trillion.

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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