The primary cryptocurrency reacted well to the mid-week price drop to under $63,500 and soared past $68,000 earlier today.
Most altcoins are also slightly in the green, aside from XMR and MKR, which have declined by about 3-4% daily.
BTC Taps $68K
Last Friday was quite eventful for the largest digital asset as it spiked from under $63,500 to $67,000 in hours. More volatility ensued during the weekend when the current US President, Joe Biden, said he would not run for re-election despite his ongoing campaign.
BTC dropped by $2,000 immediately but went on the offensive on Sunday evening and Monday. As such, it marked a 6-week peak of over $68,400.
The bears were quick to intercept the move and didn’t allow any further gains. Just the opposite, the asset started to lose traction and slumped hard on Thursday to a weekly low of $63,400.
However, the bulls came out of the woods at that point and propelled a notable price increase on Friday that culminated earlier today in another surpassing $68,000 once again despite the growing flows toward exchanges.
Although bitcoin has slipped to around that level now and has been unable to conquer it decisively, its market cap has jumped to $1.340 trillion, while its dominance over the alts stands close to 53%.
Bitcoin/Price/Chart 27.07.2024. Source: TradingViewSOL Sees Monthly Peaks
Although the spot Ethereum ETFs have seen massive outflows in their first days of trading, the price of the underlying asset managed to recover some ground after the slumped to $3,000 earlier this week. As of now, ETH stands close to $3,300.
BNB, ADA, AVAX, TRX, SHIB, and LINK are also slightly in the green on a daily scale. Solana and Dogecoin have charted even more impressive gains (5% and $3.5%, respectively), which has helped the former touch a 2-month peak of over $185.
The biggest increases from the largest 36 digital assets come from the likes of APT, KAS, RNDR, and FIL. In contrast, XMR and MKR are down by 3-4%.
The total crypto market cap has gained about $30 billion overnight and is close to $2.550 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto