Bitcoin’s Price Stabilizes Above $64,000
Bitcoin’s price has remained relatively steady over the weekend, settling just above $64,000 after a week of volatility. While altcoins have also experienced less volatility, there are a few exceptions, such as Dogecoin, which has surged by approximately 7%.
Bitcoin’s Rollercoaster Week
Last week started off on a negative note for Bitcoin as the cryptocurrency recovered from previous losses. On Monday, it reached $69,000 but quickly dropped by $5,000.
The following day saw even more declines as BTC slipped to a two-week low of under $61,000. This drop was primarily due to profit-taking by certain investors and uncertainty surrounding the FOMC meeting scheduled for later in the day.
However, when the US Federal Reserve announced that it would maintain its current monetary strategy, Bitcoin immediately responded with a 4% jump and surged past $68,000 by Wednesday morning.
Unfortunately, this rally was short-lived as BTC started losing ground in the following days. Currently trading around $64,000 after failing to surpass $66,000 yesterday, its market cap remains at $1.260 trillion on CG, with a dominance just above 49%.
Dogecoin Takes the Lead
While most altcoins have also experienced stability on a daily scale, Dogecoin has emerged as the top performer among the 15 largest cryptocurrencies. It has gained 7% overnight and is now valued above $0.17.
Other notable gainers include Bitcoin Cash, ICP, and OKB, with price increases of up to 8% for OKB.
On the other hand, Ethereum, Solana, and Binance Coin have seen insignificant losses, while XRP, ADA, SHIB, and DOT have experienced slight gains of about 1-2%.
Despite these fluctuations in altcoin prices, the total crypto market cap has slightly declined on a daily scale and currently stands at just over $2.560 trillion on CoinGecko.
Summary
Bitcoin’s price has stabilized above $64,000 after a week of volatility. While altcoins have also experienced less volatility overall, Dogecoin has emerged as the top performer among the 15 largest cryptocurrencies. Despite these fluctuations, the total crypto market cap has slightly declined on a daily scale.
Hot Take: Bitcoin Stabilizes While Dogecoin Surges 🚀
The past week has been quite a rollercoaster for Bitcoin and the cryptocurrency market in general. While Bitcoin’s price initially recovered from previous losses, it faced further declines before stabilizing above $64,000. On the other hand, Dogecoin has shown impressive gains, outperforming other major cryptocurrencies. It’s clear that both Bitcoin and altcoins continue to attract attention and generate excitement among investors.
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