Most cryptocurrencies have traded profitably over the past 24 hours, with the price of Bitcoin rising to $73,000 and the global crypto market cap reaching $2.45 trillion.
This comes as the flagship digital asset Bitcoin (BTC) topped $73,000 on October 29th. This is the highest level for BTC since the bull market hit an all-time high in March 2024.
BTC price rose to a high of $73,001 across major exchanges, up 5.7% in 24 hours, according to crypto.news data. This means that the bulls have once again reached the psychological $73,000 level. At the time of writing, Bitcoin is trading just below $72,930, but crypto analysts are suggesting that the bull run may not be over yet.
In an October 28 interview with CNBC, Matthew Siegel, head of digital assets at VanEck, said the current market, including the November 5 vote, provides a very bullish setup for Bitcoin. he said.
Veteran trader Peter Brandt also made a bullish prediction, suggesting that BTC is heading toward $94,000.
Some analysts expect a break above the ATH will bring a lull as the prospect of earnings will attract bidding. However, the more bullish view is that the market will continue to rise over the coming months.
This sentiment has helped push most altcoins higher. Ethereum (ETH) is above $2,650, BNB (BNB) is above $607, and Solana (SOL) is above $181. Sui (SUI) rose 24% to $2.03, while memecoins also rose, led by Popcat (POPCAT).
However, some sectors have outperformed others and may continue to do so.
According to cryptocurrency analyst Miles Deutscher, memes are the best-performing sector, up +219% year-to-date. However, artificial intelligence, real-world assets, the Bitcoin ecosystem, and decentralized physical infrastructure networks are also outperforming other markets.
According to analysts, AI tokens are up 217% year-to-date, similar to BRC-20 tokens, with RWA (+134%) and DePIN (+73%) topping the 2024 bull cycle. .
However, not all sectors have enjoyed year-to-date gains. Social Finance, Zero Knowledge, and Metaverse coins have edged up in recent weeks, but SocialFi has fallen by 57%, ZK by -36%, and Metaverse by -30%, ranking it among the worst-performing sectors. There is. Governance tokens and layer 2 tokens also belong to this category, with year-to-date returns of -25% and -16%, respectively.
