---
title: "Bitcoin Price Shoots Up to $31K But These 5 Altcoins Are Flying"
url: https://diffcoin.com/bitcoin-price-shoots-up-to-31k-but-these-5-altcoins-are-flying/
description: "Bitcoin has returned to its 2023 resistance level at $31,000, but several altcoins have surged by double digits over the past 24 hours."
published: 2023-10-23
updated: 2023-10-23
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Shoots Up to $31K But These 5 Altcoins Are Flying

The weekend has been a big one for crypto markets, with BTC skyrocketing to a new multi-month peak at around $31,000.

Moreover, the move has pushed total market capitalization to $1.19 trillion, its highest level since mid-August.

## **Solid Bitcoin Weekly Close**

Bitcoin prices neared $31,000 during the Monday morning Asian trading session. This is the highest they have been since mid-July, marking the fourth time the asset has visited this price level in 2023.

Analysts have observed the bullish weekly candle close, wiping out all losses over the past two months.

> A beautiful weekly close- reclaiming the level from which we broke down from nearly 2 months ago that led to the biggest liq event we have seen since the FTX collapse/bottom at 15k.
> 
> If you’re lucky we get a clean retest of the green zone before continuation.
> 
> Send it. [$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) [pic.twitter.com/3rsnaWK28h](https://t.co/3rsnaWK28h)
> 
> — CrediBULL Crypto (@CredibleCrypto) [October 23, 2023](https://twitter.com/CredibleCrypto/status/1716252460807803153?ref_src=twsrc%5Etfw)

Moreover, BTC dominance is over 52%, its highest since April 2021. Analyst ‘CrediBULL Crypto’ [said](https://twitter.com/CredibleCrypto/status/1716242592298389563) Bitcoin “is on the verge of a massive breakout, and dominance is going a lot higher before it shifts back to a downtrend.”

Bitcoin’s 11% gain over the past week has moved MicroStrategy’s massive $4.6 billion investment back into the green. Nevertheless, traders have identified a head and shoulders pattern that could lead to another downside if it plays out.

> [$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) 1W
> 
> We still have our potential HS. Very symmetrical and high likelihood of playing out.
> 
> It confirms on a 25k breakdown and invalidates on a 31.8 breakout.[$BTC.D](https://twitter.com/search?q=%24BTC.D&src=ctag&ref_src=twsrc%5Etfw) has bear divs so I’d argue it doesn’t play out but we shall see.[#bitcoin](https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw) [#cryptocurrency](https://twitter.com/hashtag/cryptocurrency?src=hash&ref_src=twsrc%5Etfw) [#cryptonews](https://twitter.com/hashtag/cryptonews?src=hash&ref_src=twsrc%5Etfw) [pic.twitter.com/qaKIjHcPjy](https://t.co/qaKIjHcPjy)
> 
> — Roman (@Roman_Trading) [October 22, 2023](https://twitter.com/Roman_Trading/status/1716104524585124272?ref_src=twsrc%5Etfw)

Nevertheless, Bitcoin’s 2% daily gain has been dwarfed by the double-digit pumps for a handful of altcoins. ‘CrediBULL Crypto’ commented:

> “The 5 out of 10,000 alts that are pumping right now are not the norm they are the exception- which is also why they have barely made a dent on BTC dominance.”

## **Five Flying Altcoins**

Chainlink’s LINK has made a whopping 17% over the past 24 hours to reach $10.74 at the time of writing. The asset is now up 44% over the past seven days and is the top-performing altcoin today.

LINK has smashed through resistance at around $8 to reach its highest price since May 2022, when the Terra/Luna ecosystem collapsed.

AAVE is also on a tear, gaining 11% over the past day to hit $78.90 at the time of writing. However, it has returned to 2023 resistance levels that were last hit and rejected in mid-July.

Fantom (FTM) has also gained 11% on the day to reach $0.221. This is its highest price since the mid-August market dump.

Polygon (MATIC) is up 9% to reach a ten-week high of $0.621 at the time of writing. Meanwhile, Aptos (APT) has gained a similar amount over the past 24 hours to reach $6.20, its highest since mid-August.

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