- Bitcoin trades above $65K, pushing the crypto market cap to $2.41 trillion with strong gains.
- Altcoins surge as Bitcoin dominance dips to 53.83%, signaling a shift in market influence.
- Fear & Greed Index hits 65, showing rising investor confidence in the crypto market.
Bitcoin is trading above $65,000, as most cryptocurrencies perform well. On Tuesday, an X post on the analytical platform CryptoRank pointed out that the overall market is also experiencing a sharp increase, and the top cryptos are in the green zone. The total market capitalization is now $2.41 trillion, increasing by 2.12%.
📈Market Overview#Bitcoin trades above $65K. The top-10 cryptos are traded in green zone:$ETH +3.45%$DOGE +2.85%$BTC +1.90%
— CryptoRank.io (@CryptoRank_io) October 15, 2024
Market capitalization: $2.41T (+2.12%)
The #BTC dominance: 53.83% (-0.14%)
Fear & Greed Index: 65 (Greed)
👉 Top Gainers
Klaus $KLAUS +257.2%… pic.twitter.com/KlL8xfkh0u
Top Cryptos in Green
According to platform findings, Bitcoin has grown by 1.90%, and its price is now above $65,000. Other major digital currencies also reported growth; Ethereum (ETH) rose by 3.45%, while Dogecoin (DOGE) rose by 2.85%. These gains have helped the total crypto market capitalization to rise by 2.12%.
Even though the price of Bitcoin has gone high, the dominance of Bitcoin in the market went down by 0.14% to 53.83%. This slight drop in dominance, therefore means that while Bitcoin is still the king, the other coins are slowly being introduced to the market.
Investor Confidence Rises
The Fear & Greed Index also shows that investors are experiencing a 65 score on the scale, which means that they are greedy. This shows growing optimism and confidence in the crypto market, again, particularly in Bitcoin and other major cryptocurrencies.
Besides Bitcoin and Ethereum, many other altcoins also surged higher. Klaus (KLAUS) stood out with a stunning 257.2% surge to take the lead as the best-performing cryptocurrency of the last several days. ParallelAI (PAI) gained 91.3%, while Perion (PERC) increased by 86.8%.
BTC Shorts on the Verge of Liquidation as Price Nears $67kHIGHER increased by 62.6%, while TROLL rose by 59.3%, making it among the day’s big movers. These altcoin surges support the overall market sentiment as people search for alternatives to Bitcoin.
Market sentiments remain buoyant as Bitcoin presents an encouraging trend trading above $65000. However, the slight decline in Bitcoin’s dominance indicates that altcoins are becoming more important in the market. Investors are paying attention to Bitcoin and other new coins to find the next big opportunity in this expanding market.
