Bitcoin pumps $2k in 45 minutes, breaks $65k; Ethereum at all-time high of $4.7k as bulls take control

STRAP. IN.

Bitcoin has broken out of its range and hit a two-and-a-half-week high as the bulls took control after the close of the weekly candle at 11am AEDT (midnight UTC).

The original crypto pumped by US$2,000 to US$64,900 in the space of 45 minutes this morning, hitting its highest level since October 22. That was the day BTC retraced shortly after finally smashing through its all-time high set in April.

“Update, bitcoin decided to moon now,” tweeted Wellington, NZ-based crypto influencer Lark Davis. “This break out can take us to new all time highs.”

https://twitter.com/mikealfred/status/1457503457703727104

At noon (Sydney time) BTC was changing hands for US$65,144, up 5.5 per cent from the same time yesterday.

Ethereum meanwhile had climbed 3.0 per cent to an all-time high of US$4,729.

NEW: Ethereum hits $4714 – a new all-time high 🚀

— Blockworks (@Blockworks_) November 8, 2021

Solana, Avalanche and Terra (LUNA) hit all-time highs over the weekend, as had smaller cryptos Gnosis, Radix, Queensland-based Ethereum staking service Rocket Pool, KuCoin Token, Aurory, Helium, Kadena, Wonderland (TIME), Arweave, Axie Infinity.

At lunchtime Kadena was still up 19.3 per cent to $17.72 – up from under $3 just two weeks ago. The No. 67 crypto, Kadena aims to be an enterprise-ready proof-of-work blockchain for applications.

Ripple’s XRP token was the biggest gainer in the top 20, rising 9.6 per cent to US$1.27.
 

Crypto market up 3%

Overall the entire crypto market was at US$2.84 trillion, up 2.98 per cent from yesterday.

Solana had cooled somewhat, dipping 3.9 per cent to $245 after peaking just under $260 yesterday. But it was retaining its No. 4 spot on the coin rankings.

Shiba Inu token was down 8.9 per cent to US0.0054c, while Dogecoin was up 3.1 per cent to US27.2c. The dog coins are the No. 11 and No 9 cryptos, respectively.