Bitcoin Hits Fresh All-Time High, Ethereum Rallies: 'Altseason Hasn't Even Begun,' Trader Says
Bitcoin briefly hit a fresh all-time high of $76,872 on Thursday before retreating, with financial markets continuing their rally in the wake of Donald Trump winning a second term in office.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $75,723.12 | -0.3% |
| Ethereum ETH/USD | $2,879.34 | +7% |
| Solana SOL/USD | $195.34 | +3.4% |
| Dogecoin DOGE/USD | $0.1952 | -3.1% |
| Shiba Inu SHIB/USD | $0.00001896 | -0.4% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 83% and daily active addresses rising by 17%.
- Coinglass data reports 102,336 traders were liquidated in the past 24 hours for $320 million, $200 million of which were liquidated short positions.
Notable Developments:
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Maker DAO MKR/USD | $1,562 | +17.5% |
| Ethena ENA/USD | $0.508 | +12.8% |
| Cardano ADA/USD | $0.4017 | +11.5% |
Trader Notes: Trader Smileycapital cautioned that “less is more” and predicts a “wealth effect” from increasing valuations in Bitcoin, Ethereum and Solana to trickle down to small-cap cryptocurrencies.
Analyst Ali Martinez expects the start of an altseason soon:
Veteran analyst Benjamin Cowen pointed out that Bitcoin is following a familiar pattern to previous bull market cycles:
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next:
Image: Shutterstock.
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