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Market Watch — TradingView News
The start of the new week saw the entire cryptocurrency market attempt a recovery, with its market cap pushing towards the important $2.5 trillion market, up 2.6% on the day.
Bitcoin price is now around $63K and most altcoins are also seeing gains. There will be major events happening this week that are worth following, so let’s dive in. Bitcoin Price Pushes to $63K
At the time of writing, Bitcoin is trading at around $62,800 after hitting an intraday high of around $63,700. This represents a 2.6% increase in the last 24 hours for the leading cryptocurrency.
It will be interesting to see if BTC will be able to maintain these gains and increase them or if the bears will be able to push the price towards $60,000.
In any case, as reported earlier today, some analysts are convinced that July will be a good month for Bitcoin. They argue that it has historically been a month of gains, especially after a red June (as it was this year).
As mentioned above, however, there are some major economic events that will occur in the United States this week that could impact price action. These are:
- ISM June Manufacturing PMI Data – Monday.
- Fed Chairman Powell will speak on Tuesday.
- JOLT Jobs Data – Tuesday.
- Fed meeting minutes – Wednesday.
- The stock market will be closed on Thursday.
- June jobs report data – Friday.
Solana Leads Altcoin Recovery
Many of the large-cap altcoins are also trading well in the green, with SOL being a notable example. The cryptocurrency is up 4.6% and is now pushing towards $150.
LINK is up 5.31%, AVAX is up almost 6%, NEAR is up 5% and so on.
Interestingly, some categories are performing much better than others. For example, meme coins on Solana and Base have seen average gains of 13% and 9%, respectively.
This value is significantly higher than the general meme coin category (across all chains and themes), which is increasing by about 3%.