Bitcoin Price Rise to $ 49,000 Drives Various Altcoins to New All-Time Highs | Cryptocurrency

AXS, LUNA, and a handful of altcoins hit new highs shortly after Bitcoin’s price hit $ 49,200.

Traders made their intentions clear on Sunday by briefly pushing the price of Bitcoin (BTC) above the $ 49,000 level, a move that has prompted many cryptocurrency traders on Twitter to demand that the digital asset be the best. .

Data from Cointelegraph Markets Pro and TradingView shows that after trading in a range with an upper limit close to $ 48,200 for several days, traders managed to go one step further and hit an intraday high of $ 49,242, limiting a rally from the 20% since it was trading at a low of $ 40,890. September 29th.

BTC / USDT 4-hour chart. Source: TradingView

The weekend’s gains for Bitcoin come after a week of roller coasters that began with struggling markets after a new regulatory crackdown in China affected market sentiment. At the end of the week, positive news came from Federal Reserve Chairman Jerome Powell, who confirmed that the Fed has no plans to ban cryptocurrencies.

BTC’s bullish move spread to the markets and helped boost altcoin prices, with several currencies in the top 200 making double-digit gains.

1633310470737 Bitcoin price rises to 49,000

Daily performance of the cryptocurrency market. Source: Coin360

Terra (LUNA) saw its price explode ahead of the rest of the market and rose 23.34% from its low of $ 37.52 on October 2 to reach a new all-time high of $ 46.09 in the first hours of the morning of October 3. Secret Network (SCRT) also rose to gain 20.3% to a daily high of $ 3.07.

Other notable increases include a 13% profit for Shiba Inu (SHIB) and a 12.4% price increase for Tezos (XTX) and Axie Infinity (AXS).

The overall cryptocurrency market capitalization is now $ 2.161 trillion and Bitcoin’s dominance rate is 41.4%.

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