DOGE, SHIB Explode by Double Digits, BTC Charts a Fresh Peak Close to $82K (Market Watch)

Bitcoin's Rally Continues, Surging Past $81,000

Bitcoin has continued its impressive rally, surpassing $80,000 and $81,000 earlier today, reaching a new all-time high of nearly $82,000. While some altcoins have stabilized, a number of them, including DOGE, SHIB, CRO, WIF, NEAR, and TAO, have experienced significant gains.

Bitcoin's New Highs

Bitcoin's recent surge began following Donald Trump's election victory in the 2024 US presidential election. BTC initially surpassed its March peak of $73,737 and continued to climb past $75,000. Despite some pullbacks, the cryptocurrency has maintained an upward trajectory.

Yesterday, Bitcoin broke through the $80,000 barrier. Although bears initially attempted to halt its progress, the asset's bullish momentum ultimately prevailed. Over the past 12 hours, it has risen to a peak of $81,800.

Despite a slight retracement, BTC remains above $81,000, resulting in a daily increase of nearly 3% and a weekly gain of over 18%. Its market capitalization has surged to over $1.6 trillion, maintaining its dominance over altcoins at 55.6%.

Alts Continue to Rise

Dogecoin and Shiba Inu have continued their strong performance. DOGE recently surpassed XRP and USDC to become the sixth-largest cryptocurrency, reaching a multi-year high of nearly $0.3. SHIB has also achieved local peaks due to increased demand.

Other notable altcoin gainers with double-digit increases today include NEAR, CRO, TAO, KAS, STX, and WIF. In contrast, ADA has stabilized following its recent rally, while ETH, BNB, TON, XRP, TRX, and AVAX have experienced slight declines.

The total crypto market capitalization has increased by another $50 billion since yesterday, reaching $2.9 trillion on CG.