Bitcoin’s price actions have calmed once again during the weekend, and the asset has retraced by a grand since the $66,500 peak registered earlier.
Most altcoins have also corrected on a daily scale, aside from Ripple’s native token, which has soared past $0.62 for the first time since early August.
BTC Falls Short at $66K
Last weekend went in a similar fashion, as the largest digital asset slipped from $64,000 to around $63,000. However, it went on the offensive once again on Monday and jumped past $64,500.
After a brief retracement, the asset aimed at that level once again but was stopped on Thursday and pushed below $63,000. This is where the bulls really stepped up on the gas pedal and propelled a rally that drove bitcoin to $66,500 on Friday morning. This became its highest price tag in about two months.
BTC has lost some traction since then. It dropped to $66,000 yesterday and has slipped south by another $500 despite the massive inflows toward the spot Bitcoin ETFs in the States.
Still, the asset is up by 4% on a weekly scale. Its market cap has declined slightly to just under $1.3 trillion, but its dominance over the alts is up to 53.9% on CG.
Bitcoin/Price/Chart 29.09.2024. Source: TradingViewXRP on the Run
Most larger-cap alts have mimicked BTC’s performance in the past 24 hours with minor losses. ETH and BNB have declined by just over 1% to $2,646 and $595, respectively. TON, AVAX, and SHIB have dumped by up to 3% in a day, and so have APT, XMR, STX, KAS, and others.
Dogecoin is among the few with notable increases on a daily scale. The largest meme coin has gained more than 3% and sits above $0.125 amid speculations that it could surge to $0.15 soon.
Still, XRP has emerged as the top performer since yesterday. The token has soared by 6% and now trades close to $0.63, which is its highest level since August 8.
Overall, though, the total crypto market cap has seen $30 billion gone overnight and is below $2.4 trillion now.
Cryptocurrency Market Overview. Source: QuantifyCrypto