Bitcoin Explodes Above $60K: Ethereum & BNB Break ATHs

After failing to overcome its round-numbered nemesis of $60,000 for weeks, bitcoin has finally broken above it. Most alternative coins are also well in the green, with ETH and BNB surging to new ATH records at just shy of $2,200 and $485, respectively.

Bitcoin Skyrockets Above $60K

Bitcoin was unable to continue north following its all-time high in mid-March at $61,800. Just the opposite, the cryptocurrency reversed its trajectory and a few weeks later even threatened to dump below $50,000.

Although it tried on several occasions to reclaim $60,000, it failed, and every rejection drove it further south. However, the situation has changed in the past 24 hours.

It all seemed somewhat familiar as BTC struggled around $58,000 when the bulls took control and initiated an impressive leg up. The asset gained over $3,000 in a matter of a few hours and surged to roughly $61,200 (on Bitstamp).

Despite retracing slightly since coming just $600 away from its all-time high record, the primary cryptocurrency still stands above the coveted $60,000 level.

Naturally, its market capitalization also benefited, which is now well above $1.1 trillion, while the market dominance has remained stuck around 55%.

 TradingViewBTCUSD. Source: TradingView

New ATHs for BNB and ETH

Most of the altcoin market outperformed its leader in the past several days. With BTC’s notable surge now, some have joined the race and registered new records.

Ethereum leads with a 4.5% surge on a 24-hour scale. As a result, the second-largest cryptocurrency has broken its previous ATH by peaking at nearly $2,200 for a new record.

Binance Coin, arguably the best top 10 performer in the past week or so, has also doubled down on its bull run. BNB has exploded by more than 14% since yesterday and painted a new ATH at $485 minutes ago. Just six days ago, the asset had corrected to about $310.

Ripple (4%), Polkadot (3%), Cardano (2%), Uniswap (1.5%), Litecoin (3%), and Chainlink (0.5%) are also in the green from the top ten.

 Quantify CryptoCryptocurrency Market Overview. Source: Quantify Crypto

Further gains are evident for KuCoin Token (40%), Waves (28%), 0x (18%), Basic Attention Token (18%), PancakeSwap (16%), VeChain (15%), Filecoin (14%), Tezos (11%), and Avalanche (10%).

Ultimately, the cumulative market capitalization of all digital assets has also gone for a new record at nearly $2.1 trillion after adding more than $200 billion in two days.

Publication date: 
04/10/2021 - 09:57

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