Altcoins
Bitcoin (BTC) stops before $70,000, Pepe (PEPE) resumes its bullish run (Market Watch)
Bitcoin’s price has been volatile over the past 24 hours, dropping to $67,100 and then skyrocketing to nearly $70,000 before being halted.
Altcoins posted smaller gains overnight, while Pepe resumed its bullish trajectory with a daily gain of 9%.
The up and down ride of BTC
After a quiet weekend where BTC mostly settled around $69,000, the start of the current business week has been quite positive. The asset hit a multi-day high of just over $70,500 after gaining a thousand and a half in just a few hours.
However, the bulls failed to maintain this run and bitcoin started losing value quite rapidly in the following days. In fact, the cryptocurrency had lost more than $3,000 just a day later.
More volatility occurred on Wednesday and especially Thursday I was driving BTC once again fell to $67,100 before the asset skyrocketed to a daily high of over $69,500. However, this time it failed to challenge the coveted $70,000 threshold, and so it was returned at around $68,000 as of now.
Its market cap is less than $1.35 trillion, but its dominance over alternatives is more than 50% on CG.
Bitcoin/Price/Chart 05.31.2024. Source: TradingView
PEPE on the rise
The third-largest meme coin has repeatedly made headlines in recent weeks by posting new all-time highs. However, yesterday the price dropped by double digits. Today’s landscape is quite different for PEPE, which surged over 9% to reclaim the $0.000015 level.
Top gainers among the 100 largest altcoins include JASMY (27%), BEAM (25%), and ORDI (18%).
Larger cap alternatives are much less volatile. Ethereum, Binance Coin, Solana, Ripple, Dogecoin and Toncoin are all up around 0.5% to 1%.
The total cryptocurrency market capitalization has recovered ground on a daily scale, but is still well below $2.7 trillion.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
Binance $600 Free (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 on Binance (all the details).
LIMITED LIMITED OFFER 2024 at BYDFi Exchange: Welcome Reward up to $2,888, use this link to register and open a 100 USDT-M position for free!
Disclaimer: The information found on CryptoPotato is that of the writers cited. It does not represent CryptoPotato’s views on whether to buy, sell or hold investments. You are advised to conduct your own research before making any investment decisions. Use the information provided at your own risk. For more information, please see the Disclaimer.
Cryptocurrency charts from TradingView.