Markets
Bitcoin (BTC) Price Hits $66K, Polkadot (DOT) Drops Below $6 (Market Watch)
The uneventful Bitcoin price action continued over the past 24 hours, as the asset’s most notable rise came in the form of an $800 gain to nearly $66,000 earlier today.
Altcoins are mostly seeing smaller gains today. TON, NEAR and RNDR lead the way, but even they were massively outperformed by Fetch.ai’s FET.
BTC fails at $66K
The leading cryptocurrency had a violent end to the previous trading week, falling from over $67,000 to $65,000 in just a few hours on Friday. It recovered over the weekend and spent most of it trading sideways at just over $66,000.
After another drop towards $65,000 on Monday, bitcoin reversed its trajectory and rose to $67,200 once again. However, it failed there and was reduced to $64,000 on a few occasions, which allowed certain whales enter again the ecosystem in the middle growing ETF outflows.
It recovered some ground yesterday, during the US national holiday, when trading on Wall Street was halted. More gains came earlier today when the asset briefly spiked to $66,000, but failed to surpass that level and is now inches below it.
Still, volatility has been quite moderate in recent days. This means that bitcoin’s market cap remains below $1.3 trillion, and its dominance over alts has seen a slight drop to 51.3%.
Bitcoin/Price/Chart 20.06.2024. Source: TradingView
FET takes the main stage
Perhaps driven by Nvidia’s massive growth this year, several AI-related tokens have been shot Last day. Fetch.ai’s native currency is on Vanguard with a massive 30% increase pushing it to just over $1.7 earlier today.
More gains come from companies like NEAR (9%), RNDR (6.5%) and TON (5%). The rest of the larger caps are also mostly green, but in a more modest way.
In contrast, SOL, UNI, DOT and LEO are slightly in the red.
The total cryptocurrency market capitalization has recovered around $50 billion since the mid-week low and is now above $2.5 trillion in CG.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.