Bitcoin Surges Above $66,000: What You Need to Know 🚀
Bitcoin’s price recently experienced significant gains, reaching a 3-week peak of over $66,000, after a period of relative stability. The positive US CPI numbers and increased ETF flows played a crucial role in driving this surge. Here’s a breakdown of the recent developments in the crypto market:
Bitcoin Skyrockets Above $66K 🌟
- Bitcoin faced a dip last Friday, dropping to just above $61,000 after struggling to break through the $64,000 mark.
- Over the weekend, it managed to regain momentum and hovered around $61,000.
- A significant price surge on Monday pushed Bitcoin above $63,000, with further gains after the US CPI numbers met expectations at 3.4% for April.
- The influx of funds into spot BTC ETFs in the US fueled another rally, propelling the cryptocurrency to a 3-week high of approximately $66,500.
- Despite some slight corrections, Bitcoin is currently trading above $66,000, with a market cap exceeding $1.3 trillion and a dominance of around 52% over altcoins.
SOL, NEAR on a Roll 📈
- Ethereum has surpassed the $3,000 mark with a 3.6% daily increase, while Binance Coin is trading above $580 after a 3% gain.
- Other altcoins like XRP and DOGE have also seen positive price movements.
- Notable gains were recorded by Shiba Inu, Avalanche, Polkadot, Bitcoin Cash, and Cardano, with increases ranging from 6-8%.
- The most impressive performances, however, came from SOL and NEAR Protocol’s native token:
- SOL surged by 13% to surpass $160.
- NEAR experienced a significant 17% increase, now trading above $8.1.
- TON and PEPE are among the larger-cap altcoins that saw price declines over the last day.
Total Crypto Market Cap Reaches $2.5 Trillion 💰
The collective market cap of all cryptocurrencies has risen by approximately $150 billion since the previous day’s low, surpassing $2.5 trillion. This massive uptrend indicates the overall positive sentiment in the crypto market.
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