Dogecoin Becomes Sixth Largest Crypto As Bitcoin Reaches New Heights
Bitcoin (BTC) soared past $81,000 late Sunday, extending its record-breaking rally into a sixth day and boosting growth across major and mid-cap cryptocurrencies.
This surge follows a week of major events, including Donald Trump winning the presidential election and the Federal Reserve introducing the latest rate cuts. Bitcoin ETFs also saw a record $1.38 billion in inflows, driven by BlackRock, setting a new benchmark for crypto investments.
Impressive Trading Volume
Bitcoin rose 5.6% in the past 24 hours, with nearly $100 billion in weekend trading volume, a sign of strong market sentiment, despite typically lower weekend activity. Futures premiums also spiked, signaling a bullish outlook for Bitcoin, with traders focusing on the $80,000 level.
Alongside the likes of Cardano (ADA) and Ethereum (ETH), Dogecoin (DOGE) and Shiba Inu (SHIB) also led the charge among altcoins, jumping up to 30%, fueled by renewed support by Elon Musk. DOGE experiencing a whopping 88% gain over the past month pushed it ahead of XRP and USDC to become the sixth-largest crypto by market cap.
$100K On The Horizon
Other major altcoins like ETH and BNB saw smaller gains, while ADA faced profit-taking after a strong run on Sunday. The weekend rally is seen as part of a broader trend following Trump winning the aforementioned election and ongoing favorable conditions for Bitcoin.
Traders are now eyeing $100,000 for Bitcoin in the short term, spurred by expectations that Trump may indeed establish a Bitcoin reserve after taking office in January.
Top News
39 months ago
40 months ago
40 months ago
40 months ago
40 months ago
40 months ago
40 months ago
40 months ago
41 months ago
41 months ago
41 months ago
41 months ago
42 months ago
42 months ago
42 months ago
42 months ago
42 months ago
42 months ago
42 months ago
24248 months ago
More From The News
Press Releases
Payments
New Payment Limit For Crypto Wallets Scrapped
The recent Anti-Money Laundering re... Read more
Bitcoin
Bitcoin Undergoes Price Correction As International Economies
A significant portion of the crypto... Read more
Join Our Newsletter
Get the latest trends and updates on our crypto community.