Bitcoin's recent surge above $12,000 has sparked a rally in altcoins, with Ethereum and Litecoin leading the charge. The broader crypto market is gaining momentum, driven by growing institutional interest and a rebound in global markets. As the world's largest cryptocurrency, Bitcoin's performance will likely dictate the direction of the market.

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The surge in Bitcoin's value has indeed had a ripple effect on the altcoin market. Ethereum's increased liquidity and Litecoin's decentralized nature have made them attractive alternatives for investors seeking diversification.