Bitcoin price surge to $ 49,000 pushes various altcoins to new all-time highs

On Sunday, the bulls made their intentions clear by pushing the price of Bitcoin (BTC) just above the $ 49,000 mark, a move that led many cryptocurrency enthusiasts on Twitter to call for the better digital asset, 50,000.

Data from Cointelegraph Markets Pro and TradingView show that after being stuck in a range of $ 48,200 for several days, the bulls managed to move BTC price up to secure an intraday high of $ 49,242.A 20% rally from the low of $ 40,890 on September 29th.

4-hour chart of the BTC / USDT pair. Source: TradingView

Bitcoin weekend gains come after a volatile week that began with markets seeking momentum after renewed regulatory crackdown in China weighed on market sentiment. At the end of the week, there was some positive news from Federal Reserve Chairman Jerome Powell confirming that the Federal Reserve has no intention of banning cryptocurrencies.

Bitcoin price surge to $ 49,000 pushes various altcoins to new all-time highs
Bitcoin price surge to $ 49,000 pushes various altcoins to new all-time highs

BTC’s upward movement swept the markets, helping to drive up the prices of certain altcoins, with several of the currencies that make up the top 200 posting double-digit gains.

Daily performance of the cryptocurrency market. Source: Coin360

Terra (MOON) he was ahead of the rest of the market and got in 23.34% from its low of $ 37.52 from October 2nd to a new all-time high of $ 46.09 in the early morning hours of October 3rd. Secret Network (SCRT) also gathered 20.3% take in maximum daily USD 3.07.

Other outstanding achievements include winning the 13% from Shiba Inu (SHIB) and that of 12.4% from Tezos (XTX) and Axie Infinity (AXS).

The total market capitalization of the cryptocurrency is currently $ 2.161 trillion and the dominance rate of Bitcoin is 41.4%.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risks, you will need to do your own research when making a decision.

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