These Alts Surge by Double Digits as Bitcoin (BTC) Calms After New All-Time High (Market Watch)

Bitcoin Cools After Reaching New All-Time High

Bitcoin reached a record high of approximately $76,500 earlier today, marking another milestone for the cryptocurrency. However, it has since lost momentum, hovering at around $75,000.

Altcoins Take Center Stage

Ethereum, the second-largest cryptocurrency, has surged by 8%, exceeding $2,800 for the first time in months. Other notable gainers include PEPE and AAVE, which have both experienced double-digit increases.

BTC Corrects

Despite the recent rally, Bitcoin experienced a significant retracement earlier this week, dropping to below $67,000 amid anticipation surrounding the US presidential elections. However, it quickly reversed course and shot up to new all-time highs.

Ethereum Awakes

Ethereum has joined the rally, posting an impressive 8% surge. This brings the cryptocurrency to a three-month peak of over $2,800. XRP, ADA, LINK, and AVAX have also experienced notable gains.

Altcoins Surge

Beyond the large-cap altcoins, several other cryptocurrencies have recorded substantial price increases. ENA, RAY, NEIRO, LDO, AAVE, and PEPE have all seen double-digit percentage gains.

Market Overview

The total cryptocurrency market capitalization has increased by $50 billion overnight, reaching a multi-month peak of nearly $2.650 trillion.