ADA Rockets to 5-Month Peak, BTC Price Corrects After Latest ATH: Market Watch

Bitcoin’s price shot to a new all-time high earlier today, jumping above $124,500 for the first time ever, before it slipped by several grand.

Ethereum continues its rise toward the 2021 all-time high of almost $4,900, while XRP and DOGE have retraced slightly since yesterday.

BTC’s Latest ATH

After the sluggish start of the month, when BTC slipped beneath $112,000, the asset managed to turn the tables by the second week. In fact, it had recovered to over $115,000 before the bulls truly took control of the market and initiated a few consecutive rallies as the current week began.

At first, they pushed the cryptocurrency to over $122,000 on Monday where it faced an immediate rejection and was driven south to $118,000. However, the bulls returned within a day and initiated another leg up that made history.

Earlier today, bitcoin skyrocketed by several grand and topped $124,500 to set a new all-time high, a month after the previous peak. However, the asset fell in the following hours to under $112,000 as of press time, perhaps due to some profit-taking.

Its market cap has jumped to over $2.4 trillion on CG, while its dominance over the alts remains well below 58% amid altcoin speculations.

ADA Explodes

Many altcoins charted spectacular gains yesterday, and some of them are in the green once again today, albeit in a more modest manner. Ethereum has climbed above $4,700 after a 2% daily jump, SOL sits above $200 following a similar increase, while TRX and HYPE are up by around 3%.

Cardano’s native token has stolen the show from the larger-cap alts. ADA has skyrocketed by over 12% on a 24-hour scale and trades at approximately $1 for the first time since early March.

In contrast, XRP, DOGE, XLM, LTC, PEPE, CRO, SHIB, and UNI have marked some losses, while ENA has plunged by 9% daily.

The total crypto market cap, which also registered a new all-time high earlier today, is well above $4.2 trillion on CG.