Bitcoin Price Eyes ATH as Dogecoin (DOGE) Skyrockets 15% Daily: Market Watch

Bitcoin Bulls Target All-Time High

The cryptocurrency market has surged in the past 24 hours, with its total capitalization surpassing $2.5 trillion. Bitcoin (BTC) has led the charge, soaring above $71,000 as bulls aim for a new all-time high.

BTC Price Analysis

Bitcoin's price has skyrocketed in recent hours, with 12 consecutive hourly candles closing in the green. This surge has brought BTC close to its previous all-time high set in June 2021. At the time of writing, BTC is trading above $71,000.

The upcoming U.S. Presidential election on November 5th is looming, and the outcome could impact the cryptocurrency market. Both candidates have expressed support for the industry, but Donald Trump has been more vocal, suggesting he may lift taxes and impose tariffs on U.S.-developed tokens.

Altcoin Rally Led by Dogecoin

Altcoins are rallying in tandem with Bitcoin. Large-cap cryptocurrencies such as ETH, BNB, SOL, XRP, and LINK are all posting gains between 1% and 5%.

Dogecoin (DOGE), the pioneer of meme coins, has emerged as the standout performer, surging by about 15% at one point. This exceptional performance extends to other meme coins, with PEPE and POPCAT also experiencing significant gains.