Double-digit price rises for these altcoins as Bitcoin (BTC) eyes $80,000 (weekend watch)

It looks like a bullish cycle once again, as the price of bitcoin continues to make new all-time highs almost daily, with recent hours at $80,000.

It looks like another season is starting as well, with multiple altcoins posting double-digit price increases over the past day.

BTC’s new and last peak

It is safe to say that the cryptocurrency landscape has become completely different after the victory of Donald Trump in the 2024 US presidential election. Remember that BTC struggled to $67,000 on Monday, but soon shot up to $75,000 after his win became official and has only doubled since then.

The US Fed’s rate cut on Thursday sent the asset flying again, this time to around $77,000. Bitcoin calmed down on Saturday, but went back on the offensive today. This time, it soared above $79,000 and hit a high of $80,000. This came amid a week of massive inflows into spot BTC ETFs, as the products attracted roughly $2.3 billion over the past three trading days.

At its current price of around $79,500, bitcoin’s market capitalization has surpassed $1.570 trillion. His dominance over the highs has been reduced of late given his spectacular performance, but he is still above 55% in CG.

Bitcoin/Price/Chart 10.11.2024. Source: TradingView Feeling like Altseason?

Altcoins lagged behind BTC on Wednesday, but have had a pretty mind-blowing performance in recent days. Looking at the last 24 hours just paints a pretty green picture.

Cardano and SUI have emerged as the top large-cap performers, each rising more than 30%. ADA’s reasoning is quite interesting as it implicates IOG founder Charles Hoskinson and the incoming Trump administration.

Dogecoin hit a multi-year high above $0.23 after doubling its price in a month. Ethereum is near $3,200 after gaining 30% in the past week. SHIB has gained more than 17% in a day, while BCH, DOT, CRO, APT, KAS and many others also join the double-digit price increase club.

The total crypto market capitalization has increased by about $130 billion since yesterday and stands above $2.850 trillion in 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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