bitcoin's highly positive week continued yesterday as the asset jumped above $77,000 to record another all-time high before pulling back slightly.
However, some of the altcoins have emerged as the best performers today, including ethereum, which was relatively slow until this week.
The latest btc spike
The start of the trading week was quite disappointing for the leading cryptocurrency as it fell below $67,000 on Monday and remained there for most of Tuesday. However, that seems like a lifetime ago given what happened in the days that followed.
Once Donald Trump's lead in the US presidential election began to grow on Wednesday morning, the price of btc soared and shot up $8,000 to a new all-time high of over $75,000. Bulls kept their foot on the accelerator and bitcoin soared to $77,000 on Thursday as the US Federal Reserve announced another rate cut.
Friday was initially less volatile as btc hovered around $76,000, but it jumped once again overnight to $77,240 to mark its latest peak. Despite having retreated to $76,500 now, bitcoin is still up 10% on a weekly basis and more than 25% in the last month.
Its market capitalization is now well above $1.5 trillion, making it the ninth largest global financial asset. However, its dominance over altcoins has dropped to 55.5% after peaking at 57%.
Alts resurface
bitcoin led the pack in terms of mid-week gains, but the landscape has now changed and many altcoins have marked impressive gains. ethereum is among them, having woken up earlier this week. eth has gained more than 4% in the last day and 21% on a weekly basis. It is now trading above $3,000 for the first time in more than three months.
Binance Coin, which lost its place as the fourth-largest cryptocurrency to Solana earlier this week, has soared 6% and is now trading at $630. Avalanche, Chainlink, and NEAR Protocol are the other notable winners from the larger cap alternatives.
The total crypto market capitalization has totaled around $50 billion now and amounts to $2.73 trillion in CG.
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