Market Roundup: BTC Taps $57,000 as New All-Time High Looms, Dot Takes Fourth Spot

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In Brief
  • Bullish Bitcoin could break all-time high by Thursday

  • Altcoins enjoying gains as bitcoin slowly climbs

  • Bitmax Token (BTMX) gains 20% to climb into top 100 as Dot jumps USDT

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Wednesday brought more green to the market as the week continues to look good for Bitcoin and altcoins combined. Bitcoin could break its all-time high as dominance drops. Altcoins have enjoyed the third day of gains as Bitcoin slowly pushes toward $60,000. 

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Bitcoin had yet another good day as the crypto pushed up to $57,350. The bullish momentum sees BTC continue its slow climb to the all-time high of around $58,350. 

This week has offered green across the board as Bitcoin leads the way. Bitcoins dominance is holding at 62% currently. The slow-moving crypto has allowed altcoins to see more bullish gains. However, on Wednesday, BTC climbed over 4.4% in price. But that did not stop altcoins from also seeing green. 

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Source: Tradingview

ETH Going for $1900

Ethereum also continues to look bullish as the second most popular cryptocurrency continues to move in unison with Bitcoin. ETH is now looking to target $1,900 as it rests less than $200 off of its all-time high. The crypto is expected to roll out some significant upgrades to the gas fee structure in the coming weeks that will likely see the price of Ethereum break the recent all-time high. 

Source: Tradingview

 

Altcoin Rally Continues

Altcoins have enjoyed the lion’s share of gains this week. Wednesday appeared to continue with that trend as altcoins continued their upward momentum. The most notable movements in the market saw Polkadot (DOT) jump Cardano (ADA) and Tether (USDT) to take the fourth spot behind BTC, ETH, and BNB. Theta Network (THETA) jumps into the 16th spot with an impressive 13.7% gain on Wednesday. 

Top 100 Biggest Gainer

Following a week dominated by Chiliz (CHZ), the project finally saw some price correction as it dropped 10% on the day. The new top 100 biggest gainer went to a new top 100 entrant. Bitmax Token (BTMX) broke into the top 100 with a gain of over 21%. The exchange is not well known compared to some of its rivals, however the centralized exchange token now joins the likes of Binance, Huobi, and KuCoin in the top 100. 

Source: CoinGecko

Market Sentiment Remains Bullish

The market continues to look bullish as it rides off the coattails of the NFT craze. Sentiment across the board remains bullish as Bitcoin could likely test a new all-time high as soon as Thursday. All eyes will be on Bitcoin first and foremost. Altcoins are enjoying the slowdown as they are afforded the chance to pump. 

All signs point to more bullish price action going into the weekend ahead. 

Disclaimer

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. A keen trader and investor in the market since 2016, he enjoys keeping up to date with the latest developments within the industry while finding the next 100x altcoin.

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