As a seasoned analyst with years of experience in the crypto market, I find myself constantly astounded by the relentless momentum of Bitcoin and the unpredictability of the altcoin landscape. The past 24 hours have been no exception to this rule.
In the last day, Bitcoin‘s strong recent run persisted, reaching a high of $69,000 – a level not seen since July 29 – before experiencing a slight pullback.
Over the past day, most altcoins have seen minimal increases, except for Dogecoin, which continues to escalate significantly following its recent surge.
BTC Stopped at $69K
On Saturday, the main cryptocurrency was hovering between $62,000 and $63,000. This came after it had rebounded from a drop below $59,000 on Thursday. The weekend was uneventful, but when the new week began, the asset took an aggressive stance.
A significant portion of Bitcoin’s price fluctuations occurred on Tuesday. It surged from approximately $65,500 to $68,000, but then plummeted sharply back towards $65,000. Yet, the bullish sentiment returned in the subsequent hours, pushing Bitcoin upward again and reaching new local highs as investor greed increased.
Last night saw a significant development in the world of cryptocurrencies: For the first time in nearly three months, the value surged to an unprecedented $69,000. However, it couldn’t maintain this high level and has since dipped slightly. Nonetheless, it still hovers around $68,000.
On Coinbase, its total value in the stock market towers at an impressive $1.350 trillion, and its control over the alternative cryptocurrencies currently stands at a high not seen in several years, exceeding 55% dominance.
DOGE Keeps Pumping
Yesterday, the standout winner among larger-cap alternatives was the original meme coin. This trend has repeated today as DOGE experienced another 6.5% rise, pushing its value up to a peak not seen in several months at approximately $0.144. There’s growing chatter about whether DOGE might reach $1 during this market cycle.
In simpler terms, among the bigger altcoins (cryptocurrencies), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Ripple (XRP), Chainlink (LINK), and Tron (TRX) have seen minimal losses, while Solana (SOL), Toncoin (TON), Avalanche (AVAX), Shiba Inu (SHIB), and others have recorded small gains. These larger-cap alts are generally less volatile compared to the rest.
WLD has emerged as the top performer from the largest 100 cryptocurrencies, having surged by 13%.
Currently, the overall crypto market capitalization has gained approximately $15 billion, pushing it over $2.450 trillion according to CoinMarketCap at this moment.
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2024-10-19 12:00