Bitcoin price is just below ATH, will we see a new record today? Crypto exchange tokens are the strongest

Things got a little tense in the cryptocurrency market yesterday. Finally launched the very first bitcoin (BTC) exchange traded fund (ETF) in the US, a futures ETF then. The fear was that the volume might disappoint, but the investment product was a great success on the first day. As a result, bitcoin resumed its rally and crypto’s total market cap briefly peaked at $2,645 trillion last night, very close to the May record.

Bitcoin

Bitcoin (BTC) has been in a strong rally for some time now. That rally cooled slightly over the weekend when bitcoin touched $63,000 for the first time since April on Friday. Still, bitcoin held steady above USD 61,000, closing the week at an all-time high. On Monday, the price once again touched $63,000, but was unable to break through it yet. Yesterday, the futures ETF successfully launched and bitcoin started to climb again. The price broke through $63,000 towards the evening and then immediately through $64,000.

At around 2 a.m., bitcoin briefly reached a price of $64,600. That’s just under the all time high (ATH) of $64,800 as of April 14. The price was only 0.3% away from this ATH. Since then, bitcoin has held up fairly well at around $64,000, so it seems likely that bitcoin will set a new record this week, perhaps even today. Bitcoin’s dominance is rising slightly again, approaching 46% while its total market cap is now above $1.2 trillion.

altcoins

Ethereum (ETH) along with most altcoins is lagging slightly today. Ether price failed to hold at $3,900 over the weekend and Monday and fell back to $3,700. Yesterday, ether climbed back to USD 3,800 and shortly after midnight, when bitcoin also peaked, ether briefly jumped towards USD 3,900, but that turned out to be a bridge too far for now. However, it seems likely that as soon as bitcoin cools slightly, the volume will spill over to ether and that price may also break out.

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Just outside the top 10 we also see terra (LUNA) rising again and the 11e recapture place of shiba inu (SHIB). LUNA price is up 6% and currently stands at $38.5. Cosmos (ATOM), near (NEAR), harmony (ONE) and hedera hashgraph (HBAR) are also about 6 to 7% in the plus.

Notably, a number of cryptocurrency exchange tokens are performing best today. KuCoin token (KCS) is 9% in the plus, huobi token (HT) 10% and OKB (OKB) even 25%. This crypto plummeted in September due to the ban in China, but the prices now seem to break out again.

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