As a researcher with a background in finance and cryptocurrencies, I’m always keeping an eye on market trends and price movements. The start of this week has brought some positive news to the crypto world, with the total market capitalization attempting a recovery and pushing toward the $2.5 trillion mark. Bitcoin, in particular, has seen its price surge to around $63,000, while many altcoins are also posting gains.
At the start of the new week, the overall value of the cryptocurrency market made an effort to bounce back, as its capitalization neared the significant $2.5 trillion threshold, marking a 2.6% increase in value for the day.
As a Bitcoin analyst, I’m observing that its current price hovers around $63,000, while most alternative coins are experiencing upward trends as well. This week, several significant events are on the horizon that merit our attention. Let’s explore them in detail.
Bitcoin Price Pushes to $63K
Currently, Bitcoin’s price hovers near $62,800 with a peak at roughly $63,700 today. This equates to a 2.6% rise over the last 24 hours in the value of this leading cryptocurrency.
As a crypto investor, I find it intriguing to observe whether Bitcoin can hold onto its recent gains and potentially escalate further, or if the bearish forces will succeed in pulling the price down closer to $60,000.
Despite our previous report suggesting that some analysts anticipate July to be a profitable month for Bitcoin, I’d like to rephrase it as follows: Previously, we shared the news that certain analysts are optimistic about July being a favorable month for Bitcoin. They base their belief on its historical tendency to yield gains, particularly following a declining June, such as the one experienced this year.
Previously noted, moreover, several significant economic occurrences are scheduled in the United States this week, which could potentially influence price trends:
- June ISM Manufacturing PMI Data – on Monday.
- Fed Chair Powell will speak – on Tuesday.
- JOLTs Jobs Data – on Tuesday.
- Fed Meeting Minutes – on Wednesday.
- Stock Market will be closed – on Thursday.
- June Jobs Report data – on Friday.
Solana Leads Altcoin Recovery
As a crypto investor, I’ve noticed that several large-cap altcoins are performing exceptionally well and trading in the green. Solana (SOL) is one of them, having experienced a significant surge of 4.6%. With this growth, SOL is now making a strong push towards reaching $150.
LINK increased by 5.31%, AVAX – by almost 6%, NEAR – by 5%, and so forth.
As an analyst, I’ve noticed an intriguing disparity in performance among various categories. Specifically, meme coins on the Solana and Binance Smart Chain platforms have exhibited impressive growth. On average, these assets have surged by approximately 13% for Solana-based coins and around 9% for those on Binance Smart Chain.
As a crypto investor, I’ve noticed that the returns on my investment in this specific project have significantly outpaced the average growth rate of meme coins as a whole. While the meme coin market has seen an uptick of around 3%, the gains from this particular project have exceeded that figure.
Read More
- CKB PREDICTION. CKB cryptocurrency
- EUR INR PREDICTION
- PBX PREDICTION. PBX cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- USD VND PREDICTION
- TANK PREDICTION. TANK cryptocurrency
- USD DKK PREDICTION
- ICP PREDICTION. ICP cryptocurrency
- GEAR PREDICTION. GEAR cryptocurrency
2024-07-01 11:50