By Bitcoin continues to astonish with its impressive rallies. BTC’s recent parabolic advance across the $12,000 mark has taken the OG crypto’s market dominance beyond 60% for the first time since April 2017 as per data from CoinMarketCap published on June 26.
Following BTC’s rapid acceleration in the past few weeks, the price of the world’s number one cryptocurrency has reached levels unseen since the end of its bull run in 2017.
However, BTC’s success has come at the expense of the altcoin market, with many top 100 cryptos failing to produce such stellar performance. As a result of this, bitcoin’s dominance over the total crypto market is sitting at an impressive 62%, the highest accolade at any time during the past two years.
Currently, the market cap of BTC stands $226 billion out the total cryptocurrency market cap of $365 billion.
BTC has seen an impressive 12.5% in daily gains with the BTC/USD pair outperforming the second best crypto in the top 10, ethereum (ETH). Ethereum has seen a 6.2% in returns in the past 24 hours with its market cap surging above the $35 billion mark for the first time since August.
Bitcoin managed to reach as high as $12,900 for the first time since January 2018, hitting yet another 2019 high when it surged to $12,919.
At around 03:00 UTC, Bitcoin broke out from a bullish pattern, rising aggressively above $12,000 on strong momentum and high volatility. At the time of writing, BTC has seen a slight downside correction and is trading at 12,545.40 as per data from CoinMarketCap.
BTC continues to post marvellous results up 40% in June alone, while its year-to-year performance is up by more than 250%.
BTC could set its sights on $13,500 resistance in the coming days, provided that momentum and market conditions maintain their current course.
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