It is throughout for bitcoin bulls as $ 55,000 and a trillion greenback market cap are again within the limelight. Bitcoin rose even increased at this time, with its spot value rising to greater than $ 55,555, its highest stage since Might 12th.
BTC value is rising
BTC is the best-performing asset in 2021. With features of 15 p.c in 5 days in October, BTC continues to outperform macro belongings worldwide, securing returns of slightly below 50 p.c because the begin of the 12 months.
Regardless of Bitcoin’s dramatic historical past this 12 months, it has been unable to seize the market on the draw back as a 60 p.c retracement from its Might highs was almost undone. BTC at present stands at $ 54,166.68, up 8.25%. Coin’s market cap is $ 1,020,310,367,793 with a 24-hour buying and selling quantity of $ 48,843,760,987.
Bitcoin is up 10% prior to now 24 hours, with the vast majority of that achieve being made within the final 60 minutes. Prior to now, September has been a comparatively nondescript month for Bitcoin, whereas October has the other influence.
It is also value noting that Bitcoin’s market share is growing whereas altcoins are struggling to catch up. BTC’s dominance is round 45 p.c on the time of writing, its highest stage in virtually two months.
Particular person success tales proceed to outperform Bitcoin by way of pipe returns. These concentrate on altcoins, a few of which have seen huge features in a brief time frame.
Some of the well-known examples is Solana (SOL), which began at round $ 1.60 in 2021 and reached an all-time excessive of almost $ 215.