Markets
Bitcoin (BTC) Stopped Short of $70,000, Pepe (PEPE) Resumes Bull Run (Market Watch)
The price of Bitcoin saw high volatility over the past 24 hours, falling to $67,100 and then climbing to nearly $70,000 before being halted.
Altcoins saw minor gains overnight, while Pepe resumed its upward trajectory with a 9% daily rise.
The descent, rise and descent of BTC
After a quiet weekend in which BTC rose 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 $1,000 in a matter of hours.
However, the bulls failed to maintain this trend and bitcoin started losing value quite quickly in the following days. In fact, the cryptocurrency lost more than $3,000 a day later.
Greater volatility ensued on Wednesday and especially Thursday. drove BTC reached $67,100 again before the asset skyrocketed to a daily high of over $69,500. However, this time he failed to challenge the coveted $70,000 mark and income at around $68,000 right now.
Its market cap is less than $1.35 trillion, but its alt dominance is over 50% on CG.
Bitcoin/Price/Chart 05/31/2024. Source: TradingView
PEPE on the rebound
The third largest meme coin has made headlines multiple times over the past few weeks by hitting new all-time highs. However, yesterday it saw a sharp double-digit decline. The current landscape is quite different for PEPE, as it has climbed over 9% to regain the $0.000015 level.
The biggest gainers among the top 100 altcoins are JASMY (27%), BEAM (25%), and ORDI (18%).
Larger-cap alternative assets are much less volatile. Ethereum, Binance Coin, Solana, Ripple, Dogecoin and Toncoin are all up around 0.5% to 1%.
The total crypto market cap has recovered ground daily, but remains well below $2.7 trillion.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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