Altcoins Take Center Stage as Ethereum (ETH) Surges Above $3K

Ethereum's recent performance has caught the attention of investors as it breaks above the $3,000 mark, while Bitcoin continues to show strong bullish momentum.

Bitcoin's Recent Performance

Bitcoin has had a remarkable week, reaching a new all-time high of over $77,000. Initially, the week started on a low note, with BTC dropping below $67,000 on Monday. However, following Donald Trump's lead in the U.S. presidential elections, Bitcoin's price surged dramatically, climbing to $75,000 and eventually hitting $77,240 after the U.S. Federal Reserve announced a rate cut.

Despite a slight retracement to around $76,500, Bitcoin remains up by 10% for the week and over 25% for the month. Its market capitalization has exceeded $1.5 trillion, solidifying its position as the ninth-largest global financial asset, though its dominance over altcoins has dipped to 55.5%.

Altcoins Experience Significant Gains

While Bitcoin has led the market in gains, several altcoins have also made impressive strides. Ethereum, in particular, has awakened from its recent slumber, gaining over 4% in the past day and 21% over the week, trading above $3,000 for the first time in over three months.

Other notable altcoins include Binance Coin, which has risen by 6% to $630, and Avalanche, Chainlink, and NEAR Protocol, which have also shown strong performance. The total cryptocurrency market capitalization has increased by approximately $50 billion, reaching $2.73 trillion.