Ethereum (ETH) Flies to 11-Week High, Bitcoin (BTC) Rejected at $105K (Market Watch)

Bitcoin Ethereum

Ethereum (ETH) Flies to 11-Week High, Bitcoin (BTC) Rejected at $105K (Market Watch)

Bitcoins price actions remained relatively dull even though the US CPI numbers came out yesterday and were slightly lower than expected.

Many altcoins have notched impressive gains over the past 24 hours, with RAY and ENA leading the pack from the largest 100.

BTC Maintains $103K

The primary cryptocurrency enjoyed the beginning of May as its price finally conquered the $100,000 level last Thursday, and it hasnt looked back since. It kept climbing even during the weekend, but the culmination transpired on Monday when the US and China announced a tariff pause. At the time, BTC skyrocketed to almost $106,000, which became a new multi-month peak.

However, the bears finally intervened at this point and didnt allow an attempt for an all-time high. Just the opposite; BTC started losing value and dropped below $101,000 on Monday evening.

It didnt stay there for long and bounced to around $103,000 yesterday. The aforementioned better-than-expected US CPI numbers for April failed to result in immediate price volatility, but BTC still challenged $105,000 in the evening to no avail.

Since then, the asset has lost nearly two grand and fights to stay above $103,000. Its market cap is well above $2.050 trillion on CG, while its dominance over the alts has taken a beating and is down to 59.1%.

BTCUSD. Source: TradingViewETH at $2.6K

Ethereum has completely reversed its sluggish and disappointing performance at times in the past week or so. It has jumped by another 4.5% in the past 24 hours and now sits close to $2,600 after surging to a new multi-month peak of almost $2,750 earlier today.

Other notable gainers from the larger-cap alts today include SOL, DOGE, TRX, AVAX, and PI. RAY, ENA, and MKR have surged by double-digit price increases, while WIF has dropped the most since yesterday by losing 5% of value.

The total crypto market cap has recovered over $60 billion since yesterday and is above $3.460 trillion on CG.