Altcoins are currently enjoying bull runs in the market as the majority of them have posted massive double-digit price returns in the last 24 hours.
After bouts of bull runs that moved bitcoin around the $16,000 and $15,200 price mark, the coin has rested around the $15,500 region. While Bitcoin is currently resting after a much-needed price correction, the bulls have decided to take charge of altcoins as they have recorded double-digit price moves.
Ethereum is leading the bull charge as it currently trades around $450 while Ripple is trading around $0.26. The most impressive altcoin in the market in the last 24 hours is the DeFi project, Yearn.Finance, which recorded a 100% price surge.
Bitcoin is currently resting at $15,500 after its recent bull run
It should be worth noting that the flagship cryptocurrency has been showing its dominance in the market in recent days, amassing high figures in record time. One such to mention is the yearly records which the coin has broken and yet again reaching its highest price ever in three years after it touched the $16,000 price market.
Bitcoin seems to be currently resting after the recent bull that spanned days. Notably, the asset could not break through the new resistance figure before it dropped back to a daily low of $15,250.
However, it seems the bull was watching out for the leading digital assets as they took charge to pull it to its current level at $15,500. Looking at it technically, one would observe that Bitcoin’s upward resistance is at $16,000, $16,400, and $16,720.
Alternatively, traders will not have to worry about a further decline as the coin’s new support levels are now at $15,000, $15,200 if the bears decided to continue from where the bulls stopped. Despite altcoins always gaining during a Bitcoin bull run, it was not the case this time. However, we could yet witness a general altcoin surge in the market soon enough, judging by the numbers they have been pulling in the last 24 hours.
Altcoins surge reduced Bitcoin dominance by 2%
Presently, Ethereum has witnessed a gain of 6%, hitting the $460 price mark in the process. This is a major confidence booster for the digital asset after the coin struggled to hit the $370 price mark around November 4. On its part, Ripple has finally gotten something to cheer for after the coin saw a 4% increase to trade above $0.26 for the first time in a month.
Other coins that have witnessed a price surge are Bitcoin Cash, Binance Coin, Polkadot, Cardano, and Litecoin. Another surprise performer that took the altcoin market by storm is Chainlink, after gaining 14% and currently trades at $13.
It looks like lower placed altcoins are presently stealing the shine off the other altcoins with Yearn.Finance recording a 62% surge in one day. The token witnessed a 100% surge but has since undergone a price correction to stay at its present price mark of $14,822.
Other tokens that have seen double digits price moves are Band Protocol, Solana, Reserve Rights, Ren, and SushiSwap, among some others. With the bull run recorded by altcoins, Bitcoin dominance fell by 2% as it moved from 66% to 64%.
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