According to CryptoPotato, Bitcoin has resumed its bull run in the past 24 hours, nearing $45,000 for the first time since May 2022 but failing to overcome that level. However, numerous altcoins have outperformed BTC, with ADA, DOT, and AVAX standing out as the most prominent examples.
Last Saturday, BTC began its most recent run, nearing $40,000. After initially failing to overcome that level and trading below it on Sunday, Monday saw another leg up that pushed the cryptocurrency north of that line for the first time in over a year and a half. Since then, Bitcoin has continued to climb higher, reaching above $44,000 on Wednesday. The bears tried to intervene at this point, driving it south to $43,000, but that was short-lived. The primary digital asset went back on the offensive hours ago, reaching as high as $44,800 to chart a new 2023 peak. Despite losing some ground since then, BTC still trades above $44,000 and is over 2% up on the day.
Its market capitalization has soared past $860 billion, but its dominance over the alts has taken another hit and is down to 52.4%. Most alternative coins were trailing behind BTC in the past few weeks, but many have caught up in the last 48 hours. ETH is close to $2,400 after another daily increase, BNB has spiked above $240 following a 5% jump, while XRP (7.5%) sits near $0.7. Solana, Dogecoin, Polygon, Chainlink, Litecoin, and Uniswap have posted similar gains to XRP. At the same time, Polkadot and Avalanche have exploded by 21-22%. Cardano is in a league of its own with a massive 32% surge, currently trading well above $0.6. With most other alts well in the green, the total crypto market cap has soared by over $40 billion and stands above $1.650 trillion.
