Bitcoin continued its upward momentum over the past day, reaching a new three week high above 73000 dollars despite limited progress following the Middle East truce.
At the same time, many large cap altcoins are trading higher. Ethereum has moved back above 2200 dollars, while HYPE has climbed past the 40 dollar mark.
Bitcoin Reaches a New Local Peak
Bitcoin traded within a tight range between 66000 and 67000 dollars over the previous weekend. Momentum picked up on Monday when the price jumped above 70000 dollars following reports that the United States and Iran had entered negotiations ahead of a key deadline.
After conflicting reports caused a brief drop below 68000 dollars, the market reversed sharply on Tuesday. The announcement of a two week ceasefire between the two nations fueled a rally that pushed Bitcoin close to 73000 dollars. Additional speculation around Iran potentially accepting Bitcoin for shipping tolls added to the bullish sentiment.
Even rising inflation data for March failed to slow the rally. Bitcoin climbed to around 73500 dollars earlier today, marking its highest level since mid March. It is currently trading just below 73000 dollars, with its market capitalization reaching approximately 1.455 trillion dollars. Its dominance over altcoins has also increased, now exceeding 57 percent.
RaveDAO Leads Altcoin Surge
RaveDAO has emerged as the standout performer, breaking into the top 100 cryptocurrencies by market capitalization after a 100 percent daily surge and an impressive 700 percent gain over the past week.
Dash is another notable gainer, rising by about 13 percent to trade above 45 dollars. SIREN has also advanced, returning to around 0.80 dollars after a 10 percent increase.
Among larger cryptocurrencies, gains have been more moderate. Ethereum has climbed by roughly 2.3 percent to remain above 2200 dollars, while BNB has edged above 600 dollars with a modest increase. HYPE has posted a 5 percent gain to reclaim the 40 dollar level, while WLFI, Monero, and CC have recorded slight declines.
The total cryptocurrency market capitalization has grown by more than 100 billion dollars over the past week, reaching approximately 2.53 trillion dollars at the time of writing.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
