Bitcoin to the moon? It certainly seems like it. The biggest and oldest cryptocurrency is closing in on its all-time high, the price of Bitcoin flying as high as $64,000 on Tuesday. It is $62,101 at time of writing—weekend trading being typically subdued—a more than respectable seven-day jump of more than 21%.
Continued ETF action has helped push the biggest virtual coin up; analysts told Decrypt that the bull run may just be getting started.
The newly approved Bitcoin funds trading on Wall Street are wildly popular—especially BlackRock's—and are experiencing record inflows and trading days.
Bitcoin, as a result, is now not far from touching its November 2021 all-time high of $69,044 per coin. It came within 11% of that milestone, in fact.
Bitcoin Is 12% Below Its All-Time High 52 Days From Halving
All eyes were on the price of Bitcoin on Wednesday as the number-one cryptocurrency by market capitalization topped $63,636 before tumbling to $59,557. Even so, two months before the halving, Bitcoin is less than 12% below its all-time high of $69,044 from November 10, 2021. The distance Bitcoin needs to close before matching its all-time high continues to fluctuate; the last time Bitcoin ascended above $63,000 was April 12, 2021, according to CoinGecko. Image: CoinGecko Bitcoin’s rise to $60,00...
Ethereum also roared. The second biggest digital coin is now priced at $3,440. It's up 18% over seven days as its network approaches its long-awaited Dencun upgrade.
And Solana (SOL), the fifth biggest cryptocurrency by market cap, has also been on a run. The Ethereum-competitor jumped to a 22-month high on Thursday but is now slightly below that level, trading for $129.08, a seven-day rise of 30%.
Of the biggest digital coins and tokens, Dogecoin (DOGE) won with its gains over the week: Elon Musk's personal favorite was the best-performing top cryptocurrency.
On Friday it wa still up significantly, and today it's priced at $0.1427, having jumped by 50% over seven days. But, unlike Bitcoin, DOGE still has a long way to go before it touches its May 2021 all-time high of $0.73.
And Shiba Inu, the 19th biggest digital asset, has shot up by nearly 50%.
Smaller memes stole the show, though, with Pepe in particular making astronomical gains—the Ethereum-based coin has shot up by 200% over seven days and is just 14% below its all-time high.
Edited by Ryan Ozawa.