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Ethereum Gets A 1% Kick Up As Bitcoin Struggles Near $58K

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Ethereum gets a 1% kick in price as it increased while Bitcoin had a hard time near the $58K price range as we can see more in today’s Ethereum price news.

Bitcoin keeps failing the $58,000 level while Ethereum gets a 1% kick in the price when the asset neared its ATH. Bitcoin continued to struggle below $58,000 as the latest attempts to conquer this level failed. At the same time, some altcoins produced bigger gains including ETH which came a few inches away from a new high. The second-biggest cryptocurrency dropped below $4K less than a week ago but the landscape around it has changed a lot since then as ETH now stands over $4700.

BTCUSD. Source TradingView

Moreover, ETH touched $4800 a few hours ago which means that it came less than $80 away from reaching an all-time high. Other larger altcoins are also in the green with Binance coin being up by 5% on the day and increasing to $640. Solana is among the best performers with a  9% surge that drove the coin to $220. Cardano increased by 2%, Ripple increased by 3%, Terra by 5%, Avalanche by 6.5%, CRO by 7%, and Chainlink by 6%.

On the contrary, the two biggest meme coins are in the red with DOGE leading the way as it dropped by 1.2% while Shiba Inu surged following a listing on Kraken that dropped 8%. Further gains came from Voyager Token by 33%, Curve DAO token that increased 19%, Stacks increased 27%, and KuCoin that increased by 11% as well. The entire crypto market cap increased by $80 billion in one day and came close to $2.8 trillion on CoinGecko. While the rest of the altcoins charted some strogn gains, BTC was unable to do the same. The crypto had dipped below $54,000 but then surged by over $4000 on Monday.

crypto market
Cryptocurrency Market Overview. Source Quantify Crypto

It continued in the next few hours upwards and touched $59,000. After a slight retracement, BTC increased again and surpassed $59,000 yesterday once again. It then failed to keep rising and the rejection drove it south by $2000. After a few more fluctuations, BTC stalled around $57,000. With the Bitcoin market cap remaining below $1.1 trillion, the dominance over the rest of the altcoins continues to fade away with the metric being above 44% a few weeks ago but then dropping below 41%.

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ETH Got 1% From New ATH, BTC Struggles to Break $58K