After weeks of failing to challenge $100,000, Bitcoin price has finally surged past its coveted level by hitting a new all-time high.
Several altcoins have followed suit, including Ethereum (ETH), which surged above $3,900.
It has been a bumpy ride since Donald Trump’s victory in the US presidential election a month ago. The major cryptocurrency was trading around $68,000 at the time, but quickly surged in value. It surpassed its all-time high in March and continued to rise in the following weeks, reaching $99,800 on November 22.
After nearly reaching the six-figure mark, heavy selling pressure caused BTC price to dip below $91,000 a few days later. However, the bullish surge continued in the following weeks.
Just yesterday, Bitcoin rose from $95,000 to $99,000 and this morning finally managed to break through the six-figure mark. In fact, it continued to surge and hit a new all-time high of $103,500.
Although currently trading slightly below $103,000, BTC’s market cap has surged to $2.03 trillion on CG. Bitcoin’s dominance over altcoins has also increased to 52.7% after losing traction last week.
Ethereum, which previously received little attention due to the massive gains of other altcoins such as XRP, DOGE, BNB, and TRX, is now showing strength again. The second-largest cryptocurrency surged above $3,900 after a daily increase of 5.5%.
DOGE, SHIB, BCH, DOT, SUI, and CRO also saw significant price gains from large-cap altcoins. On the other hand, BNB, TRX, AVAX, XLM, HBAR, and TON saw declines today. XRP also experienced a decline, which is surprising given Trump's choice of the next SEC chairman.
However, the total crypto market cap hit a new record high of over $3.850 trillion on CG.
