Bitcoin And Ether Set New All-Time Highs As Market Cap Reaches $3 Trillion

BTC And Ether Hit New All-Time Highs

Bitcoin and Ether, the top two cryptocurrencies by market cap, have reached new all-time highs. The duo attained new all-time highs earlier today as the broader cryptocurrency market continues its recent excellent performance.

Bitcoin’s price rose by more than 4% earlier today, and the leading cryptocurrency reached the $68,641 level, its highest trading price. Ether also reached a new all-time high at $4,857 per coin and looks prime to break past the $5k mark in the coming hours.

BTC’s all-time high price of $68,641 represents a massive increase in value over the past few months. The leading cryptocurrency dropped below the $30k level during the second and third quarters of the year when the bears were in control of the market.

At the time of writing, BTC is trading at $67,721 per coin, down by 1.4% from its current all-time high. Ether, on the other hand, is trading at $4,797, down by 1.3% from its recent all-time high price.

Cryptocurrency Market Cap Tops $3 Trillion

The recent rally by Bitcoin, Ether, Solana and other leading cryptocurrencies has seen the total crypto market cap rise past the $3 trillion mark. This latest development is a huge one for the crypto space, as the industry was worth roughly $1 trillion about a year ago.

Bitcoin and other cryptocurrencies are expected to rally higher before the end of the year. Many analysts expect Bitcoin’s price to touch $100,000 before the end of 2021, while Ether is expected to trade at $8,000 per coin.

In the short term, BTC could target the $70k level after setting up strong support above $67k. Meanwhile, Ether could look to surpass the $5k resistance level over the next few hours despite slightly retracing from its all-time high price.