Cardano (ADA) Soars by 14%, Bitcoin (BTC) Remains Above $93K After New ATH (Market Watch)

Bitcoin charted a fresh peak of just over $94,000 yesterday but has retraced by less than a grand since then to remain above $93,000.

Cardano has popped up to be today’s top performer from the larger-cap alt, having surged by double digits to over $0.8.

BTC’s Latest Peak

The primary cryptocurrency peaked last Wednesday at just under $94,000 and started a week-long consolidation phase. It even retraced on a few occasions to under $90,000 and below $87,000. However, the bulls went back on the offensive at the start of this week with a surge to $92,000.

After a few unsuccessful attempts to overcome that line, BTC surged above it yesterday. Moreover, it kept climbing and broke $94,000 for the first time ever to register its latest all-time high of $90,040 (CoinGecko data).

This came amid reports that the asset’s FOMO levels are still quite low, which suggests that it could be primed for even more price gains in the near future and perhaps even challenge the $100,000 line.

As of now, BTC’s price tag means that its market cap has soared to $1.850 trillion on CG. Its dominance over the alts is also on the rise and is close to 57%.

Bitcoin/Price/Chart 20.11.2024. Source: TradingView

ADA on a Roll

Most larger-cap alts are quite sluggish today. ETH, XRP, DOGE, AVAX, and SUI are with minor gains, while BNB, SOL, TRX, SHIB, and TON are with losses of up to 3%.

In contrast, Cardano’s native token has resumed its recent bull run with another double-digit surge. A 13% daily increase has pushed ADA to over $0.84 for the first time in eight months.

The other notable gainers from the larger-cap alts include LEO, XRO, BONK, and APT, with price jumps of up to 10%.

The total crypto market cap registered a new peak of over $3.250 trillion after adding over $50 billion overnight.

Cryptocurrency Market Overview. Source: QuantifyCrypto