A Bitcoin ETF could be in the near future, according to the latest developments in America. This pushed the cryptocurrency up to $63,000 hours earlier. Altcoins are failing to follow the lead of Bitcoin ETF, which has seen BTC dominance reach a three-month high.
Bitcoin Gained $2K from ATH
After being rejected at $58,000, the primary digital asset fell below $55,000 on October 13th. BTC quickly recovered and moved north to new multi-month highs.
Bitcoin was initially close to $58,000 again, but it eventually managed to surpass that mark after several more attempts. According to reports, a Bitcoin Futures ETF could be launched in the US next week.
Although the Securities and Exchange Commission has yet to confirm this, rumors intensified Friday, which gave BTC another boost.
Bitcoin soared to $60,000 at this point and has continued to climb. The asset reached $63,000 just hours ago, which is about 3% off its April record of $65,000
Although BTC’s price has fallen by a few thousand, it is still well over $60,000 and its market capitalization is north of $1.150 billion. The altcoins have trailed it, with 47% of the market cap at their peak. This is a nearly three-month high.
BTCUSD Source: TradingView
ETH Eyes $4K: DOT up by 7%
Although most alternative coins have lost some value against bitcoin recently, they still trade in the green against USD. Ethereum traded at close to $3,900 today, after falling below $3,500 days earlier.
On a 24-hour basis, Binance Coin (3.5%), Cardano (1.5%), Ripple (1%), Dogecoin (3.5%), Terra (1%), Litecoin (4%) all showed some gains. With a 7.5% rise to $43, Polkadot has outperformed all other coins. This was just days after the project announced a huge announcement about its parachains.
Solana is the top 10 coin that has seen a significant price drop since yesterday. It dropped 3% to $160.
Cryptocurrency Market Overview. Source: Quantify Crypto
The crypto market cap soared to $2.5 trillion with more gains from The Graph (17%) and Amp (15%) as well as NuCypher (10%) and ICP (8%) respectively. The metric was also just inches away from a new record.
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