Markets
Bitcoin Surges Past $63,000 as Solana (SOL) Soars Toward $150: Market Watch
The start of the new week saw the total cryptocurrency market attempt a recovery, with its capitalization pushing towards the massive $2.5 trillion market, up 2.6% on the day.
Bitcoin price is now around $63,000, and most altcoins are also showing gains. There are some important events happening this week that are worth keeping an eye on, so let’s dive in.
Bitcoin Price Surges to $63,000
At the time of writing, the Bitcoin price is trading around $62,800, having hit a daily 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 hold these gains and expand on them or if the bears will be able to push the price towards $60,000.
In any case, as we reported Earlier today, some analysts were convinced that July would be a good month for Bitcoin. They argue that this month has always been a month of gains, especially after a red month in June (as was the case this year).
As mentioned earlier, there are a few important economic events happening this week in the United States that could impact price movements. These include:
- June ISM Manufacturing PMI Data – Monday.
- Fed Chairman Powell will speak on Tuesday.
- JOLTs Employment Data – Tuesday.
- Fed Meeting Minutes – Wednesday.
- The stock exchange will be closed – Thursday.
- June jobs report data – Friday.
Solana leads altcoin recovery
Many large-cap altcoins are also trading nicely in the green, with SOL being a notable example. The cryptocurrency is up 4.6% and is now closing in on $150.
LINK rose by 5.31%, AVAX – by almost 6%, NEAR – by 5%, and so on.
Interestingly, some categories are performing much better than others. For example, meme coins on Solana and Base have seen, on average, gains of between 13% and 9%, respectively.
This is significantly higher compared to the overall meme coin category (across all channels and themes), which is up around 3%.
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