As Bitcoin has been rising for several days, it started to show its effects across the broader market. After surpassing the $40,000 level, the BTC price has been continuously supported by an increase, and for the first time since 2022, it exceeded the $44,000 level. But does this situation affect altcoins as well?
The Best Altcoins and Their Price Surge
Due to the ETF expectations formed around Bitcoin, the cryptocurrency market has become active, and significant price increases have been observed in some altcoins’ prices dependent on BTC.
According to the data provided by Binance just a minute ago, an incredible price surge was detected in 3 altcoins in the last hour. The analysis showed that all of the altcoins increased by over 50%.
Firstly, BTTC was seen to have an incredible price increase of 100% after a long silence and then pulled back a bit. The stable price structure changed suddenly with new purchases, and the 24-hour trading volume showed a 94% increase, reaching 124 million dollars.
The overall market volume has increased by 90% to 900 million dollars. While it is not known what caused this price movement, upcoming news in the following minutes could reveal the reason behind it. Due to this price movement, BTTC stepped into the top 70 in the marketcap ranking.
The second altcoin that caught investors’ attention was POLS. Studies showed that POLS had risen over 80% within the last hour, followed by a decrease in price, currently trading at $0.7455 with a 58% increase. The 24-hour trading volume showed an incredible increase of 1402%, amounting to 54 million dollars.
Finally, a rise scenario was also formed for BAKE. BAKE’s price increased by 50% on a day that started with altcoins being overshadowed by BTC and reached a price of $0.2693. It would not be wrong to say that the trading volume for BAKE also increased. The 24-hour trading volume was $513.7 million, showing an increase of nearly 1800%. BAKE is currently ranked 383rd in the marketcap ranking.
The Current Situation with Bitcoin
Considering the price increase Bitcoin has been making for days, it is wondered whether the situation is a case of “buy the rumor, sell the news” or if it is really an early surge due to ETF and halving.
After its continuous rise, Bitcoin experienced a slight pullback in the last 24 hours and is trading at $43,651 following a 1.5% decrease. Despite this small decline, it is important to remember that BTC has surpassed the $44,000 level.
