Crypto Market Today (Oct 29th, 2024): Bitcoin New All-time Highs on Horizon?

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The crypto market today is buzzing as it has surged 3.74% over the past day, bringing the market capitalization to $2.41 trillion. Trading volume also surged significantly by 72.27% to $101.81 billion, highlighting strong momentum as major digital assets continue to show bullish movements. The Fear & Greed Index now reads 60, indicating an atmosphere of “Greed” as market participants show heightened optimism.

Bitcoin Today: ATH Approaching Soon?

Bitcoin price has skyrocketed past $70,000, marking a significant milestone after seven months of a sideways trend. Rising 4.23% over the last 24 hours, Bitcoin’s price at press time stands at $71,503.67, with a 24-hour high of $71,475.47, edging close to its all-time high of $73,750.07. This sharp rise is supported by a substantial increase in trading volume, which has more than doubled with a 111.24% surge. 

Bitcoin’s dominance now sits at 58.6%, further confirming its central role in the ongoing market rally. Speculation around potential new highs is growing, particularly amid substantial open interest at the $75,000 mark expiring on November 8.

Curious about where BTC is heading next? Read our Bitcoin Price Prediction for insights!

Altcoin Highlights: Ethereum, Solana, and XRP

Ethereum has mirrored Bitcoin’s upward price projection, gaining 4.12% to reach $2,628.52. Solana also saw a modest gain, up 2.26% at $180.71, while XRP registered a smaller uptick of 1.17% to $0.5254. Despite these moderate increases, altcoins continue to capture investor interest, hinting at the potential for further gains in the near term.

Interested in Ethereum’s 2024 outlook? Our Ethereum Price Prediction has all the answers!

Top Gainers and Losers

The day’s biggest winners include Sui, soaring by 16.64% to $1.98, Dogecoin, up 14.03% to $0.1666, and Popcat with a 13.86% increase to $1.75. On the downside, Raydium dropped by 5.04% to $3.20, Kaspa declined 2.51% to $0.1171, and Mantra fell slightly by 1.37% to $1.37.

With Bitcoin’s resilience leading the market rally and altcoins showing promise, traders are keenly observing these upward trends. As optimism surges, the potential for fresh all-time highs keeps the market abuzz.