Monday in the measurable musculature of crypto, starting off like any other day for Bitcoin (BTC), the “orange coin” rolled from $39,200 to $38,800 in the first two hours of the day. It was not long, however, before the market went ballistic, triggered by news that Tesla allocated $1.5 billion into BTC. Resembling a SpaceX rocket launching into space, BTV went vertical, soaring from $38,800 to $43,878 in only a matter of about three hours. At this point, BTC had a correction that brought its price down to $42,800 momentarily, before the bulls took BTC back in control. In another massive and powerful pump, BTC went as high as $47,156 to make a new all-time high (ATH).
Unsurprisingly, the selling pressure got heated up at the level, with BTC pulling back to $45,642, where it would bounce off support. At this point, spectators must have thought BTC did not have much fuel left in it for the day, but they would have been mistaken. In its final leg-up of the day, BTC made history yet again, smashing through its last ATH to make it to $48,025 where it would mark a new record flag. At this point, there was only one hour left on Monday, as BTC gradually pulled back to $47,500 going into Tuesday. After gaining 18% in 24 hours, BTC is now up 38% for the week. In accordance with its monumental price rise, Bitcoin dominance has also increased by 1.1% since the previous day, currently at 61.8% against all cryptoassets, with a marketcap of $860 billion.
Looking at the chart for Ether (ETH) on Monday is almost like looking at the BTC chart but on a smaller scale. Like “Bit” brother, ETH had a minor pullback when it started the day around $1,634, only coming down about $20 before ETH made like BTC and went parabolic. In its first leg-up, ETH went from $1,624 to $1,717 in a three hour time span, which at the time was a new ATH for ETH, but there was more to come. After a small correction that brought ETH to $1,668, the bulls gave the asset another gracious leg-up to send the pioneering DeFi coin to $1,770, where it would mark another official new ATH. As was the case with BTC, the selling pressure got heated up at the top, eventually bringing ETH to $1,720 where it would bounce off support. After one more attempt at another new ATH, ETH fell just short but consolidated around $1,750 going into Tuesday. Finishing the day up 7%, ETH is now up 37% for the month, with a marketcap of over $201 billion.
Unlike usual when altcoins take a step back while BTC and ETH are making moves to the upside, the bunch got in on the fun from the Tesla news Monday and had a massive rally as well. From the Top-100 by marketcap, over 20 ended the day up in double-digit percentages. Starting with the largest marketcap assets first, the biggest winners of the day were as follows: Binance Coin (BNB) went up 28%, Litecoin (LTC) ~ 10%, Bitcoin SV (BSV) ~ 15%, Elrond (EGLD) ~ 11%, TRON (TRX) ~ 20%, Terra (LUNA) ~ 50%, VeChain (VET) ~ 11%, Celsius Network (CEL) ~ 11%, IOTA (MIOTA) ~ 31%, NEO (NEO) ~ 14%, OKB (OKB) ~ 20%, FTX Token (FTT) ~ 18%, Filecoin (FIL) ~ 26%, Decred (DCR) ~ 17%, Zilliqa (ZIL) ~ 17%, Thorchain (RUNE) ~ 10%, Waves (WAVES) ~ 10%, BitTorrent (BTT) up a whopping 142%, DigiByte (DGB) ~ 39%, Synthetix (SNX) ~ 27%, Nano (NANO) ~ 11% and PancakeSwap (CAKE) went up 40% going into Tuesday.
- BitcoinPriceGoesBallisticFollowingTeslaBitcoinNewsMakesNewAllTimeHigh$48kPumping18%Monday
- EtherETHpumpsInUnisonWithBitcoinMakesNewAllTimeHigh$1,770MondayFollowingBTCnewATH
- AltcoinsJoinInOnBitcoinRallyOver20coinsFromTop100EndDayUpInDoubleDigitGains
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