The world’s leading cryptocurrency is closing in on its all-time high price of $67k, with the total cryptocurrency market cap now approaching the $3 trillion mark.
Bitcoin Tops $65k
The leading cryptocurrency has been rallying over the past few days and has now topped the $65k level. The rally comes as the broader cryptocurrency market added more than $200 billion to its market cap over the weekend.
Bitcoin is currently down by 1.5% from its all-time high price of $67,276, which it attained on October 20. If BTC maintains its current momentum, it could set a new all-time high above $68k over the next few hours.
BTC’s next resistance point is around the $66,700 level, and it could surpass that level if the bulls continue to push the cryptocurrency higher. Reaching the $66,700 level could allow BTC to surge higher and top the current all-time high above $67,200 over the next few hours. Bitcoin’s rally comes despite losing some of its market dominance in recent weeks.
However, a retrace is also possible after BTC added more than 6% to its value in the past 24 hours. A decline below the $65k level could expose the support level at $64,500. However, BTC could likely defend the major support level around the $63k mark unless there is a massive sell-off in the market.
Total Crypto Market Cap Approaches $3 Trillion
The total cryptocurrency market cap has been increasing in recent months, thanks to the excellent performance of Bitcoin and other cryptos. At the time of writing, the total cryptocurrency market cap is around $2.9 trillion.