Bitcoin Rises Above $34,000

London: 26 October 2023 (TraderMade): Bitcoin rose above $34,000. Most of the cryptocurrencies were trading higher on Thursday amid optimism. However, the cryptocurrency global market cap has surged 0.77%, or around $1.27 trillion, over the past 24 hours.

Bitcoin went up to 1.47%, nearing $34,626 at noon, whereas Ethereum surged 1.4% to above $1,800. These consistent gains are overshadowing the ETH and other significant Altcoins price action.

This has led to a dominance of BTC's 30-month high, hitting a new 30-month high of 54% or more. These values are recorded as the highest since April 2021.

There is a rise of 6% in other altcoins, including Dogecoin and Shiba Inu. However, if the investors become more comfortable during this market phase with the risk curve, altcoins may see rising investor interest, which can lead to a correction in BTC dominance.

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