Bitcoin Nears All-Time High as SUI Surges 12% in Market Watch
Bitcoin nears its all-time high, reaching $73,600, while SUI surges 12%. Overall crypto market cap rises to $2.55 trillion.
In the last 24 hours, Bitcoin's price has surged close to its all-time high of $73,740 set in March. After a price drop to $65,500 due to Tether-related fears, Bitcoin quickly regained momentum, reaching around $67,000 over the weekend. The cryptocurrency continued its upward trajectory, surpassing $70,000 for the first time in months and peaking at $73,600 on Bitstamp, just $150 shy of the previous record.
Market Dynamics
Despite failing to break the all-time high, Bitcoin remains 2% up today, pushing its market capitalization over $1.430 trillion. Additionally, Bitcoin's dominance in the market has increased to over 56%, indicating a strong position against altcoins.
Altcoin Performance
The altcoin market is also experiencing positive movements. Ethereum has risen by 2%, nearing $2,700, while Dogecoin has gained nearly 5%. Other notable performers include LINK and ADA, both up by around 3%. In a standout performance, SUI has skyrocketed by 12%, now trading above $2.
Overall Market Growth
The total cryptocurrency market capitalization has seen a boost of $80 billion, reaching a multi-month high of over $2.550 trillion. However, some assets, such as KAS, have faced declines, dropping by 7% in the same period.
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