Bitcoin Consolidates as Altcoins Make Minor Gains π
In the past 24 hours, Bitcoin has shown little to no significant movement, with the most notable increase being an $800 gain that pushed the price to nearly $66,000 earlier today. However, the altcoin market has seen some minor gains, with tokens like TON, NEAR, and RNDR leading the way. Fetch.ai’s FET, on the other hand, has outperformed them all with a substantial increase.
BTC Struggles to Break $66K Resistance
Bitcoin faced a tumultuous end to the previous week, dropping from over $67,000 to $65,000 in a matter of hours on Friday. Though it managed to bounce back over the weekend, the price largely remained around $66,000. Despite briefly spiking to $67,200, Bitcoin failed to sustain momentum, slipping back to $64,000 multiple times. This dip allowed some whales to re-enter the market amidst growing ETF outflows. As of now, Bitcoin is struggling to break the $66,000 resistance level and is trading just below it.
FET Surges Amid AI Token Rally π
Fetch.ai’s native token has experienced a significant surge of 30%, reaching over $1.7, likely driven by Nvidia’s strong performance in the market. Other AI-related tokens such as NEAR (9%), RNDR (6.5%), and TON (5%) have also seen gains. While the majority of larger cap altcoins are in the green, some like SOL, UNI, DOT, and LEO are slightly in the red.
Total Crypto Market Cap Rebounds π
The total cryptocurrency market cap has increased by approximately $50 billion since the mid-week dip, now surpassing $2.5 trillion according to CG index. This recovery indicates a renewed bullish sentiment in the market.
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