Bitcoin Taps New High at $64,230 Amid Rising Dominance

Bitcoin's price has reached $64,230, representing a modest 1% gain over the last 24 hours, according to data from CoinMarketCap.

This follows its climb to $64,550 on Monday, its highest level in more than a week, and comes as the market pauses for breath after that initial surge.

The price of BTC is now hovering around this figure, while its dominance over the altcoin market has risen nearly 0.5% in a single day to 57.2%, with a market cap approaching $1.29 trillion.

The derivatives market is signaling a bullish appetite for Bitcoin, with annualized funding rates on BTC perpetual contracts reaching a 20-month high, indicating that traders are paying a premium to hold long positions.