Over the weekend, the cryptocurrency market experienced a significant surge, with Bitcoin (BTC) reaching a new multi-month high of around $31,000. This surge has also pushed the total market capitalization to $1.19 trillion, the highest level since mid-August. Analysts have noted the bullish weekly candle close for Bitcoin, which has erased all losses over the past two months. Additionally, BTC dominance has exceeded 52%, its highest level since April 2021. Analysts believe that Bitcoin is on the verge of a major breakout, and dominance is expected to rise even further before shifting back to a downtrend. However, traders have identified a head and shoulders pattern that could lead to another decline if it plays out. Despite this, Bitcoin’s 2% daily gain has been overshadowed by the double-digit increases seen in several altcoins. Chainlink’s LINK, for example, has surged 17% in the past 24 hours and is now up 44% over the past week, making it the top-performing altcoin. Other altcoins such as AAVE, Fantom (FTM), Polygon (MATIC), and Aptos (APT) have also seen notable gains.
#Bitcoin #cryptocurrency #cryptonews #BTC #altcoins #Chainlink #LINK #AAVE #Fantom #FTM #Polygon #MATIC #Aptos #APT
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