Bitcoin’s price has continued to rise since Saturday night’s plunge, rising above $68,000 and nearing $68,500 earlier today.
Altcoins are also up slightly today, with BNB soaring above $590 and ETH soaring above $2,500.
BTC over $68,000
Major cryptocurrencies saw some volatility over the past trading week amid heavy inflows into spot Bitcoin ETFs. It was above $69,500 on Monday and rose to $65,000 in just a few days leading up to Wednesday. Another rally occurred on Thursday, pushing north around $69,000, but the bears returned Friday night and began another decline.
Led by FUD centered around Tether, BTC fell to $65,500 overnight. However, the bulls rose to power almost immediately, pushing Bitcoin up to $67,000 over the weekend.
The asset continued to gain momentum early Monday morning. It soared above $68,000 and hit a multi-day high of $68,500. However, it has fallen some since then, but is still above $68,000.
Its market capitalization has risen to $1.35 trillion, and its control over alternatives is extremely high at 55.8% in CG.
Bitcoin/price/chart 2024.10.28. Source: TradingView
DOGE, DOT are on the rise
Elon Musk, known for being an outspoken supporter of the world’s largest and oldest meme coin, did something similar last night, posting a DOGE-related meme on X. The result is similar to previous similar examples, the price of Dogecoin increased by about 3-4% (in minutes). It is currently trading above $0.14.
Polkadot is another notable large-cap gainer. DOT has soared 4% to near $4.20. Ethereum is up over $2,500 with a 1.5% gain, BNB is over $590 with a daily gain of 1.4%, and SOL, RP, TON, ADA, AVAX, SHIB, BCH, LINK are also in the green.
In contrast, TRX, LEO, and SUI have recorded modest losses. In the case of SUI, the daily price drop is quite painful (-4%).
The market capitalization of virtual currencies has exceeded $2.4 trillion and currently stands at $2.42 trillion.
Overview of the cryptocurrency market. Source: QuantifyCrypto Special Offer (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 on Binance (more details).
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Cryptocurrency charts by TradingView.
