Bitcoin (BTC) reached a new all-time high (ATH) of over $74.5k, leading the crypto market to rally over 5% in the past 24 hours.
Dogecoin (DOGE) surged 16% to trade at 19 cents, outperforming other top-tier altcoins.
Crypto critic Peter Schiff warns of a potential selloff in the near term as the US election results show an early lead for Republican candidate Donald Trump.
Altcoins, especially dog-themed meme coins, are gaining bullish momentum, indicating the anticipated altseason may begin in the next eight weeks.