Bitcoin (BTC) demonstrates its leadership again in the cryptocurrency market by breaking an all-time high (ATH) of $109,468, igniting interest among investors and analysts.
Bitcoin Price Surpasses ATH at $109,468
Earlier today, Bitcoin (BTC USD) broke its previous ATH of $109,358 set in January. Market data shows BTC's price hit $109,468.10. As of this writing, BTC was trading at $107,134.45, up 3.4% over the previous day. Investor interest in the leading coin remains high due to rising trading volume, which increased by over 20.3% to $64.6 billion. Bitcoin's price movement indicates it has decoupled from equities amid current volatility.
Industry Leaders React to Bitcoin's Record
Some crypto stakeholders shared their comments on Bitcoin's new record on social media. Binance CEO Richard Teng stated that Bitcoin has broken records that many previously viewed as impossible. In a May 7 report, K33 Head of Research Vetle Lunde and Senior Analyst David Zimmerman noted: CITE_W_A. The rally in Bitcoin's price suggests an upward trend, with experts like Robert Kiyosaki recently predicting a peak of $500,000.
Will Altcoins Follow Bitcoin's Trend?
With Bitcoin's new record, altcoins are also drawing attention as potential candidates for growth. At the time of writing, Ethereum's (ETH) price jumped 5.2% to $2,600. However, Ethereum is still down over 46% from its previous ATH. Analysts are confident that Ethereum will lead the altcoin rally with capital flow from BTC. Other altcoins like XRP, Solana, and Cardano also saw significant gains of 3.65%, 5.14%, and 6.96%, respectively.
Thus, Bitcoin's achievements in the market could potentially lead to price increases for altcoins. Interest from institutional investors and the possibility of new funds may also support this trend.
