Bitcoin Stalls, Altcoins Surge...Is Market Dominance Shifting?

▲ Virtual Asset Trading

While Bitcoin (BTC) consolidated around $77,000, an upward trend spread across major cryptocurrencies.

CoinGeape, a specialized virtual asset media outlet, reported that the cryptocurrency market showed an overall upward trend, coinciding with the bullish global financial market. Bitcoin continued to fluctuate around $77,000 without clear direction, showing a short-term breather.

Ethereum (ETH) continued its upward trend, surpassing $2,400. As capital inflow into the market continued, the upward trend appeared to spread across major altcoins.

XRP showed a relatively strong upward trend, attracting investors' attention. With the rise in global stock markets and the recovery of risk asset preference, major altcoins, including XRP, showed collective strength.

In particular, the S&P index set a new all-time high, leading to improved investor sentiment. As the correlation between traditional financial markets and cryptocurrency markets strengthened, the bullish stock market acted as a factor supporting the upward trend of virtual assets.

Along with this, a sharp rise in some individual assets was also observed. The RAVE token surged by about 50% in one day, demonstrating a short-term capital influx into the market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*