Bitcoin has been steadily approaching that all-important psychological barrier of US$100,000, currently trading at US$98,616.56. The non-fungible token or NFT friendly cryptocurrency has risen 2.19% so far on the day. The global cryptocurrency market exceeded an all-time high combined market capitalisation of US$3.04 trillion. It’s already up 1.86% today alone!

Bitcoin’s current dominant position with a market cap of nearly US$1.96 trillion. While Bitcoin (BTC) and Ethereum are both experiencing consistent increases, several altcoins are exhibiting breakout potential.

Ethereum (ETH) continues trading at US$1,843.30, increase 1.07% on the day. Ethereum is still down at US$222 billion in market capitalization. The newly approved Pectra upgrade for Ethereum is expected to significantly increase network scalability and usability.

Amongst the altcoins, the KMNO/USDC pair was top gainer with a 13.96% increase on decentralised exchanges. The gork/SOL pair had strong trading activity, with two gork/SOL trading pairs up by more than 10% consistently.

Bitcoin is quickly approaching a pivotal resistance level that will likely set the short-term tone for the rest of the market. In short, Bitcoin has the market analysts on high alert. The cryptocurrency is approaching the US$100,000 barrier, a point that might trigger a wave of new investment and crypto-market enthusiasm. These continuing advances in both Bitcoin and Ethereum are a sign of increasing trust in the developing cryptocurrency market.

This new surge in digital assets is once again characterized by the rise in market capitalization and digital asset investing. Despite high market concentration, altcoins, especially KMNO/USDC and gork/SOL, show a sign of broader diversification across trading activities. These massive gains just serve as a reminder of the ever-changing landscape that is the crypto market.