Why are altcoins going up today? (October 5)
A crypto market rally is intensifying today, Oct. 5, as Bitcoin price jumped to a record high and the valuation of all coins hit $4.26 trillion. The Bitcoin price rally has led to more upside among other cryptocurrencies like Ethereum, Solana, and Stellar.
Crypto market rally boosted by Bitcoin surge
The first main reason why the crypto market rally is happening is that the Bitcoin price is in a strong surge and is sitting at its all-time high.
BTC price soared to a record high of over $125,000 for several reasons, including the robust ETF inflows and its safe-haven appeal rises among investors.
Bitcoin has also been boosted by the ongoing supply and demand dynamics. BTC has a supply limit of about 21 million coins and is seeing robust…
