Bitcoin’s price has been on a wild ride in the past few days, first heading north to over $70,00 before it dumped to $67,000 a day later.
The altcoins have recovered some of yesterday’s losses, and most have turned green. SHIB and WIF lead the pack from the meme coin realm with massive double-digit surges.
The largest cryptocurrency by market cap experienced a volatile five-day trading period last week after the news surrounding the eventual approval of spot Ethereum ETFs by the US SEC. The asset skyrocketed to a multi-week peak at the start of it of nearly $72,000, but it dumped to under $66,500 on Thursday – just hours before the SEC’s actual approval.
It regained some traction on Friday and during the weekend as its price went to $69,000. It retraced slightly on Monday before another leg up resulted in breaking above $70,000 for the first time in about a week.
Yet, the bulls failed to maintain this run and BTC dumped hard yesterday to just over $67,000. Still, bitcoin bounced off and neared $69,000 once more hours ago but was stopped there and now sits inches above $68,000.
Its market cap remains below $1.350 trillion, but its dominance over the alts has taken another minor hit and is down to 49.6%.
Bitcoin/Price/Chart 29.05.2024. Source: TradingView
The meme coins have been among the top performers in the past 24 hours. SHIB is at the forefront of the massive surge, gaining 15% overnight. Moreover, SHIB surpassed Cardano to become the 11th largest cryptocurrency by market cap, as reported earlier.
WIF is the other massive gainer from the larger-cap alts. The asset has soared by 20% in a day and now trades close to $4.
SOL, TON, RNDR, and ATOM are with minor gains from the larger-cap alts, while ETH is down by 0.4% but still trades above $3,800.
The total crypto market cap has recovered $35 billion overnight and sits above $2.7 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post Shiba Inu (SHIB) Explodes 15% Daily, Bitcoin (BTC) Maintains $68K (Market Watch) appeared first on CryptoPotato.
BitSafe has released new infrastructure for builders launching decentralized financial applications on the Canton Network.…
Clearing a funded challenge, exiting a position in profit, and then losing the account anyway…
XRP traded largely flat on Monday following a volatile week marked by a broader cryptocurrency…
Strategy is back in the spotlight after revealing its Bitcoin treasury could support shareholder dividends…
Recent business collapses of exchanges have brought speculation about whether such crashes could trigger the…
Whale clients are showing renewed appetite for Ether, a development that could benefit crypto customers…