Overall Crypto Market Approaches $2.5 Trillion

BTC daily candle chart, approximately 2:35pm ET, 10/15/21.

The overall cryptocurrency market cap is also preparing to test an all-time high. Currently, it stands at about $2.476 trillion.

This is following BTC’s movement over the last day that has taken it from an open at around $57,000 to about $61.8k at the time of posting. This has triggered some altcoins to follow slightly however, BTC is dictating much of the market movement with an increase in BTC dominance that is now up to 47%.

ETH daily candle chart, approximately 2:35pm ET, 10/15/21.

Ethereum has finally started to follow BTC’s slight rally as it attempts to reach $3,900 once more. This area around $4,000 has a lot of resistance for Ethereum, however with the broader market moving upwards and a scaling update on the way, things are looking fairly bullish for Ethereum on the fundamental side. It should be noted that ETH dominance has only dipped slightly to 18.3% from its earlier 18.4%.