Markets
Bitcoin (BTC) price unstable at $67K, Altcoins turn red (market watch)
The price of Bitcoin has fallen below $67,000 on a few occasions in the last 24 hours, but has reacted well to each correction and is now in that line once again.
Altcoins are slightly in the red on the daily scale, with TON, ADA and SHIB retreating around 3%.
BTC goes down and up
It was less than a week ago – last Tuesday – when the price of the primary cryptocurrency fell to just over $61,000 amid some Coinbase troubles. However, the asset recovered almost immediately and began a notable recovery on Wednesday following the announcement of the US CPI numbers.
In a matter of hours, BTC jumped several thousand dollars and surpassed $66,000. It corrected on Thursday to just under $65,000, but reversed its trajectory again by the end of the week.
This culminated in a few price rallies above $67,500, the latest of which occurred on Sunday. However, bears intercepted the move and pushed BTC to just under $66,000. A little more volatility followed with another brief decline, but bitcoin is currently near $67,000 once again, falling less than 0.5% in a day.
This means that the cryptocurrency’s market cap remains around $1.320 trillion and its dominance over alts is close to 52%.
Bitcoin/Price/Chart 20.05.2024. Source: TradingView
Alts see red
Most altcoins mimicked BTC’s performance over the last 24 hours, recording small losses. ETH is close to breaking below $3,100 after a 0.4% daily drop as anticipation for the SEC’s decision on ETFs Ethereum grows. Binance Coin declined by a similar percentage to $576.
More losses from larger-cap alts come from XRP, DOGE, AVA, DOT, TRX, and BCH, while TON, SHIB, and ADA are down 2.5-3%.
In contrast, Solana’s native token has jumped 2.5% and is close to $180. WIF, PEPE, NEAR, and GRT are also slightly green.
The total crypto market capitalization has lost some value since yesterday and is now just under $2.550 trillion in CG.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.