Altcoins
Bitcoin (BTC) Price Targets $67,000 Again as Most Altcoins Turn Red (Market Watch)
Despite positive flows into the largest US spot Bitcoin ETFs, the price of the underlying asset pulled back sharply yesterday, but is now back near $67,000.
Most altcoins saw notable losses over the past day, with AVAX, DOT, INJ, and ADA leading the way.
Bitcoin hovers around $67,000
The leading cryptocurrency had a volatile end to the week, failing to hold above $65,000 and slipping to $63,000. However, it rebounded late Friday and early Saturday and surged to $67,500.
After a slight pullback, the trend calmed down again on Sunday morning, but the withdrawal of the current US president from the race for the 2024 election shook the markets again later in the day.
Joe Biden’s decision to end his campaign first pushed BTC dropped by around two thousand dollars before the asset skyrocketed to a monthly peak of just over $68,000 on Monday morning.
The next day, volatility continued to rise, causing Bitcoin to drop to $66,300 earlier in the day despite massive inflows into spot BTC ETFs. Currently, however, the asset is back near $67,000.
Its market cap is $1.32 trillion, while its dominance over alts is 51.7% on CG.
Bitcoin/Price/Chart 23.07.2024. Source: TradingView
Alts turn red
Most of the crypto community today is focused on Ethereum, given the planned launch ETH spot ETFs in the United States. However, its price has remained relatively stable on a daily scale at just over $3,500.
Ripple is the other largest-cap alt with a slight increase over the same period, and XRP is now trading above $0.6.
The rest of the market is in a more dire state. BNB, TON, ADA, SHIB, DOT, LINK, BCH, NEAR, and UNI are all down around 2%, while AVAX, LTX, ICP, and INJ have seen losses of up to 6%.
The total cryptocurrency market capitalization has declined slightly since yesterday, but remains above $2.55 trillion.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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Cryptocurrency Charts by TradingView.