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).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!

Disclaimer: The information found on CryptoPotato is that of the quoted writers. It does not represent CryptoPotato’s views on whether to buy, sell or hold any investment. We recommend that you do your own research before making any investment decisions. Use the information provided at your own risk. See disclaimer for details.

TradingView Cryptocurrency Charts.