Bitcoin was above $66,000 as of Friday, but the major cryptocurrency remains 9% below its all-time high (ATH). By comparison, most other cryptocurrencies are far away from his ATH, and many alternative cryptocurrencies still have a long way to go before reaching their previous peaks.
Bitcoin: 9% below ATH, altcoins further behind
Many crypto assets have outperformed BTC in the past 90 days. However, in the current bull market, BTC maintains an advantage over many competitors. For example, of the $2.35 trillion cryptocurrency economy, Bitcoin has a market capitalization of approximately $1.28 trillion, accounting for more than 54% of the total market capitalization. BTC reached the ATH price 64 days ago and reached $73,794 per unit on March 14, 2024. At the current price of $65,368 per coin, BTC is 9% below its peak two months ago.
In contrast, Ethereum (ETH) is 36.6% below the ATH of $4,878 per coin reached on November 10, 2021. BNB is performing well, being 13.4% below its peak on May 10, 2021. Although BNB did not do this. this. In three years he has surpassed ATH, but is still closer than most. Solana (SOL) price is down 34.4% from its ATH of $259.96 per coin recorded on November 6, 2021. XRP's decline was one of the steepest, dropping 81.4% since its ATH on January 7, 2018.
Toncoin (TON) recently entered the top 10, but has fallen 11.7% from its ATH of $7.63 on April 11, 2024 last month. Rounding out the top 10 are dogecoin (DOGE) and Cardano (ADA), which lost 77% of their ATH. It has fallen 84.8% from its peak. Bitcoin (BTC) may not have reached its absolute peak, but its relative dominance in the crypto market is undeniable during the recent bull run.
The question remains: Will BTC regain its glory and continue to raise the bar, or will the current rally propel the alternative asset to new heights and dust off its status as the king of cryptocurrencies? According to Blockchaincenter.net's Altcoin Season Index, Bitcoin maintains its top spot every month, but "altcoin season" is not over yet. As always, there is never a dull day in the world of cryptocurrencies. Evolving dynamics may redefine the cryptocurrency landscape in unexpected ways.