Markets
Bitcoin Price Targets $68K Again, Solana Hits 2-Month High Above $185 (Weekend Watch)
The leading cryptocurrency responded well to the mid-week price drop below $63,500 and rose above $68,000 earlier today.
Most altcoins are also slightly in the green, with the exception of XMR and MKR, which are down around 3-4% per day.
BTC hits $68,000
Last Friday, the price of the largest digital asset was quite volatile, rising from below $63,500 to $67,000 in a matter of hours. The volatility increased further over the weekend when current US President Joe Biden said he would not run for re-election despite his ongoing campaign.
BTC dropped $2,000 immediately, but went on the offensive Sunday night and Monday, hitting a 6-week high of over $68,400.
The bears quickly intercepted the move and did not allow further gains. On the contrary, the asset started to lose traction and fell hard on Thursday to a weekly low of $63,400.
However, the bulls came out of the woods at this point and propelled a notable price increase on Friday that peaked earlier in the day with another one surpassing $68,000 once again despite the increasing flows towards exchanges.
Although Bitcoin fell to this level today and was unable to decisively conquer it, its market cap has jumped to $1.34 trillion, while its dominance over altcoins is close to 53%.
Bitcoin/Price/Chart 27.07.2024. Source: TradingView
SOL experiences monthly peaks
Although spot Ethereum ETFs saw massive outflows during their first few days of trading, the price of the underlying asset managed to recover some ground after dropping to $3,000 earlier this week. At present, ETH sits at nearly $3,300.
BNB, ADA, AVAX, TRX, SHIB, and LINK are also slightly in the green on a daily basis. Solana and Dogecoin have seen even more impressive gains (5% and 3.5% respectively), which has helped the former reach a 2-month high of over $185.
The biggest gains among the 36 largest digital assets came from APT, KAS, RNDR, and FIL. On the other hand, XMR and MKR are down 3-4%.
The total cryptocurrency market cap gained around $30 billion overnight and is close to $2.550 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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Cryptocurrency Charts by TradingView.