Altcoins Lag as Bitcoin Flirts With $69,000

Bitcoin surged on Monday after a relatively calm weekend to trade above $69,000.

However, despite the strong showing from the world’s most valuable cryptocurrency, most of the Top 100 digital assets by market capitalization are flat or down on the day, with ETH up 0.6% and SOL and DOT dropping 1%.

Total crypto market capitalization dipped 1.1% to $2.42 trillion in the last 24 hours as Bitcoin dominance – a measure of BTC’s share of total market cap – hit 59.85%, its highest level since March 2021.

Renewed appetite for BTC from spot ETFs, which attracted more than $3 billion in inflows over the past two weeks, has propelled Bitcoin to within 7% of its March all-time high. Traders are placing bullish bets ahead of next week’s U.S. presidential election, with a potential Trump victory expected to boost crypto markets further.

Big losers today include Celestia (TIA) and Sui, both down 8% in the past 24 hours. OG memecoin Dogecoin is one of the best-performing assets after a 5% rally.

Meanwhile, U.S. stocks kicked off the week in the green. The S&P 500 climbed 0.4%, while the tech-heavy Nasdaq gained 0.25%.