Markets
Bitcoin (BTC) stopped short of $70K, Pepe (PEPE) resumes bull run (market watch)
Bitcoin price has been on a volatile trajectory over the past 24 hours, dropping to $67,100 and then spiking to nearly $70,000 before being halted.
Altcoins are seeing smaller gains overnight, while Pepe has resumed its upward trajectory with a daily increase of 9%.
Ride Down and Up and Down BTC
After a quiet weekend in which BTC mostly hovered around $69,000, the start of the current trading week has been quite positive. The asset hit a multi-day high of just over $70,500 after gaining a thousand and a half in hours.
However, the bulls were unable to maintain this run and bitcoin began to rapidly lose value in the following days. In fact, the cryptocurrency had lost more than $3,000 just a day later.
More volatility followed on Wednesday and especially on Thursday which drove BTC fell once again to $67,100 before the asset soared to a daily peak of over $69,500. However, this time it failed to challenge the coveted $70,000 line and returned to about $68,000 as of now.
Its market cap is below $1.350 trillion, but its dominance over alts is above 50% in CG.
Bitcoin/Price/Chart 05/31/2024. Source: TradingView
PEPE in recovery
The third-largest meme coin has repeatedly made headlines in recent weeks, reaching new all-time highs. However, it fell sharply yesterday by double digits. The scenario today is very different for PEPE, as it rose more than 9% to recover the level of US$0.000015.
The biggest gainers from the top 100 altcoins include JASMY (27%), BEAM (25%), and ORDI (18%).
Larger cap alts are much less volatile. Ethereum, Binance Coin, Solana, Ripple, Dogecoin, and Toncoin were up around 0.5% to 1%.
Total cryptocurrency market capitalization has recovered some ground on a daily scale, but is still well below $2.7 trillion.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.