Markets
Ripple (XRP) Soars 13% Daily to 3-Month High, Bitcoin (BTC) Hits $66,000 (Market Watch)
Amid continued positive flows into spot Bitcoin ETFs, the price of the underlying asset continues to recover and hit $66,000 for the first time in about a month earlier today.
Altcoins are also well in the green, with XRP leading the pack after a 13% daily increase.
BTC stopped at $66,000
Bitcoin prices experienced extreme turbulence earlier this month, culminating in a price drop to a three-month low of under $54,000 on July 5. Since then, however, the asset has managed to recover over ten thousand dollars.
The rebound begin The price of Bitcoin almost immediately shot up to $58,000, and the cryptocurrency remained at that level for several days. It was only after the failed assassination attempt on US presidential candidate Donald Trump over the weekend that Bitcoin saw a sharp rise and regained the $60,000 mark.
Further gains were recorded at the start of the current trading week as bitcoin jumped up Average monthly income hit $63,000 yesterday and continued to climb over the past 24 hours. Another $3,000 increase brought it to $66,000 for the first time since June 20.
Despite losing around $1,000 since then, bitcoin now sits at just over $65,000. Its market cap is just over $1.28 trillion, and its dominance over altcoins remains at 51.2% on CG.
Bitcoin/Price/Chart 17.07.2024. Source: TradingView
XRP on the run
Ripple’s native token has become the best performer of the moment. The asset has flew by over 13% in the last 24 hours and is now trading at its own multi-month high of over $0.6. FET is the other larger-cap alt with a similar surge that took it to $1.5.
Other impressive gainers from this cohort of crypto assets include SOL (6%), DOGE (5%), AVAX (8%), DOT (5%), APT (10%), XLM (8%), and ATOM (8%).
The cumulative market cap of all crypto assets increased by over $80 billion overnight and now stands at just over $2.5 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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