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The rise in cryptocurrencies that began at the end of February continues at full speed today. The process, which started with the rise of Bitcoin, then reflected on Meme coins and subsequently AI coins, had taken over the market. After reaching up to $69,900, the BTC price experienced a sharp pullback and settled at the $68,000 level with the ongoing rise. In recent minutes, a new ATH has emerged.
Bitcoin Hits Its ATH
In recent days, Bitcoin, which turned back from $69,900 in the spot market and momentarily exceeded $70,000 in the futures market, has just witnessed a historic moment. For the first time in the spot market, the Bitcoin price surpassed $70,000 and rose to a new ATH of $70,725.
After the 2021 ATH of $69,000, the BTC price fell until 2023, reaching levels as low as $15,000, before starting to recover again.
Following the recovery, everything changed when the calendar showed March 2024, and the price rose to a new ATH. This rise before the halving has brought the possible target of $100,000 to investors’ minds. The question of how high the price can go is already a subject of curiosity.
Current State of Altcoins
Following Bitcoin’s ATH, attention has turned to altcoins. Ethereum (ETH), which was in the negative territory this morning, recovered and started trading slightly in the positive. As of writing, the ETH price is trading at $3,956. Investors are curious whether ETH will also surpass the $4,000 level.
The rise in Bitcoin does not seem to have reflected much on the rest of the market. High-volume coins like SOL, XRP, ADA, and top 10 coins DOGE and SHIB continue to trade in the negative territory, although some recovery has been observed.
Only BNB‘s price is in the positive territory, and it was noted that there was a 5% increase in its price earlier in the day before the rise.
Considering the focus on Bitcoin, if the price stays at these levels, a recovery in altcoins could be anticipated in the coming hours.
