- Bitcoin has surged past $103,000, leading a $400 billion rally in the crypto market, with altcoins like ETH and meme coins also posting impressive gains.
- This bullish momentum continues to drive significant market shifts, especially among smaller altcoins.
The crypto market has been experiencing a remarkable rally, with Bitcoin (BTC) leading the charge. Over the past few days, the total market cap skyrocketed by almost $400 billion, fueled by BTC’s surge past $103,000—a level it hasn’t reached in over three months. While Bitcoin’s dominance has slightly waned, altcoins, particularly meme coins, are riding high on impressive gains.
Bitcoin’s Bullish Surge
Bitcoin’s recent ascent has caught the attention of investors and analysts alike. On May 6, BTC was facing rejection just below $98,000, but it quickly bounced back from a temporary dip below $94,000. In the following days, Bitcoin powered through the $100,000 mark for the first time since January, marking a significant milestone. On Friday, Bitcoin surged past $104,000, although it briefly faced resistance before stabilizing above $103,000.
Also read: Coinbase Launches 24/7 Bitcoin and Ethereum Futures Trading After $2.9B Deribit Acquisition
As of now, Bitcoin is up by 7% this week and has seen a remarkable 26% increase over the past month. Its market capitalization has soared to $2.05 trillion, solidifying its position as the leading cryptocurrency. However, Bitcoin’s market dominance has slipped to 60.5%, as altcoins, particularly those in the meme coin sector, have experienced substantial price increases.
Altcoins on the Rise
Ethereum (ETH) continues to post impressive gains, currently trading above $2,300 after a 6% increase. Other altcoins, including Binance Coin, Solana, and Avalanche, are also benefiting from the bullish market conditions, registering notable price jumps. But it’s the meme coins that have really captured the spotlight. Dogecoin (DOGE), for instance, has surged over 12% and is now trading above $0.21.
Pepe (PEPE) and Fartcoin (FARTCOIN) are leading the meme coin pack, with substantial double-digit price gains, making them some of the biggest winners in today’s market.
With the crypto market experiencing a surge of over $400 billion, investors are optimistic about continued gains across both major coins like Bitcoin and Ethereum, as well as meme coins that are taking the spotlight. Whether this trend will sustain or face corrections remains to be seen, but for now, the crypto market is enjoying a period of impressive growth.
