Bitcoin Dominance Hit New 3.5-Year High As BTC Holds $90,000 (Market Watch)

The major cryptocurrency’s massive price rally continued in the past 24 hours as the asset soared to nearly $94,000 to mark its latest all-time high.

A few more altcoins have also peaked, including the recently launched meme coin sensation: PNUT and PEPE.

BTC holds $90,000

Ever since it was announced that Donald Trump will be the next US president, bitcoin has been on a mind-blowing rally that pushed it from $68,000 on election day to over $90,000 just over a week later.

The latest peak came last night. BTC was rejected at $90,000 on a couple of occasions earlier this week, but managed to break above that level yesterday and the bulls pushed it to $93,850.

Another rejection came at this level and BTC fell to $88,000 during the early morning Asian trading session. However, it bounced back above $90,000 in the next few hours and is currently above it following substantial inflows into US Bitcoin ETFs.

However, there are some warning signs that the cryptocurrency could soon pull back. For now, though, BTC’s market cap stands at $1.8 trillion, while its dominance of the highs jumped to over 61% on TradingView and over 57% on CG, both peaks multi-year

Bitcoin/Price/Chart 14.11.2024. Source: TradingView PEPE, PNUT on the Rise

Altcoins have also turned green over the past day, with impressive gains from SOL, ADA, XRP, DOGE, BNB, SHIB, AVAX, SHIB, BCH and LEO. All of them have increased up to 10%.

The most massive price increases come from meme coin niches. After Coinbase’s support, WIF is up 45%. PEPE was also listed on the US exchange, as was Robinhood, and has soared 75% on a daily basis to a new all-time high.

Recent sensation PNUT has jumped above $2 and hit a record of its own at almost $2.6 today.

The total crypto market cap hit a new high earlier today and is now close to $3.150 trillion in CG.

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