BTC Explodes At The Opening Of 2024! $46k Level Becomes New Target

<p>&nbsp;After several days of trading flat around $42,000, Bitcoin finally started the new year with a surprise by posting a surge close to $46,000 for the first time since April 2022.</p><p><br /></p><p>With BTCC's surge, altcoins also followed this bullish trend, with SOL and AVAX jumping double digits and the overall crypto market cap increasing by about $100 billion in 24 hours. After starting to rally in the last quarter of 2023, BTC calmed down over the holiday break and remained in a tight range between $42,000 and $43,000 for over a week. Moreover, this asset several times tried to break below the support line but managed to maintain its positive performance in the end.</p><p><br /></p><p><br /></p><p>However, that all changed earlier today. The crypto market started an upward move that resulted in a jump to the $44,000 level. Tuesday morning brought more joy for traders as BTC surged to and above $45,000 for the first time in nearly two years.</p><p><br /></p><p>At the time of writing BTC peaked at $45,900 before returning to 45,769. Based on the movement, the community sees optimism in the market and is ready to push the price past the $46,000 level and beyond. This resulted in a huge growth in BTC's market cap, which is now close to $900 billion at CMC. Bitcoin's dominance over altcoins also increased to 50.9%.</p><p><br /></p><p>Most altcoins are in the green today, including ETH (6%), BNB (2.5%), XRP (2.4%), ADA (5%), DOGE (5%), DOT (6%), and MATIC (5%) . However, there are also those who recorded more impressive gains. Among them, Solana and Avalanche. SOL has continued its recent surge and surged 13% to $115. AVAX is up 11% and is trading well above $40.</p>