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Bitcoin’s price managed to climb above the coveted $35,000 level, which seems to be the major target for the bulls throughout the past few days.

Meanwhile, some of the altcoins are popping and charting massive gains.

Bitcoin Reclaims $35K

Bitcoin’s price is pushing above $35,000 in an attempt to reclaim this level once again. At the time of this writing, the cryptocurrency is trading at around $35,100, charting an increase of around 0.8% throughout the past 24 hours.

Screenshot 2023-11-05 at 11.25.16
Source: CoinGecko

It’s worth noting, though, that the Bitcoin dominance is declining for a few days in a row. For those unaware, this is the metric that’s most commonly used to gauge its share relative to that of the entire market. In Layman’s terms, it means that altcoins (collectively) are outperforming Bitcoin.

Altcoins Blossom Across the Board

Most of the altcoins are also trading well in the green, even amongst those with larger market capitalization, as seen in the heatmap below.

Screenshot 2023-11-05 at 11.27.06
Source: Quantify Crypto

Notably, from the top altcoins, the best performers seem to be Ethereum’s ETH, which is currently pushing $1.9K, and Binance Coin (BNB), which is up 3.9% over the past day.

MultiversX (EGLD) is undoubtedly the best performer for the past 24 hours. It’s up a whopping 46% over the period. ImmutableX (IMX) is next in line, up 25% over the same period. PancakeSwap (CAKE) is also gaining a lot – 17.7%.

Solana is the worst-performing cryptocurrency over the day, down 2.4%. Most others are well in the green.

All in all, it seems to have been a positive 24 hours in the industry, and it’s interesting to see if the momentum will transition into the week.


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Cryptocurrency charts by TradingView.

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