As a seasoned analyst with years of experience navigating the volatile world of cryptocurrencies, I have seen my fair share of market highs and lows. Monday’s performance was a classic example of the rollercoaster ride that is the crypto market.
On Monday, Bitcoin experienced an optimistic beginning, surging to a fresh high for several months at $69,500. However, it didn’t manage to push further and reach the desired $70,000 mark.
As a crypto investor, I’ve observed some altcoins posting impressive gains in the last 24 hours, contributing to the overall crypto market capitalization approaching a whopping $2.5 trillion once more – a figure not seen since July.
BTC Still Can’t Touch $70K
Over the past week or so, the main cryptocurrency has had quite an uplifting trend. It started with a price increase from around $62,400 to $66,400 last Monday, followed by a clash between bulls and bears on Tuesday, leading to significant price swings of approximately $3,000.
Contrarily, it was the bulls who emerged victorious in this conflict and persisted in driving the asset upward. The week reached its climax on Friday as BTC hit a high of $69,000 for the first time since late July.
Over the weekend, things were more subdued as Bitcoin hovered near $68,500, as anticipated. But on Monday morning, during the Asian market’s early trading hours, Bitcoin took an aggressive stance and surged to $69,500, setting a fresh three-month high.
Despite not managing to surpass that level or advance towards $70,000, it subsequently dropped approximately $1,000 due to rejection. However, its market capitalization remains over $1.350 trillion, and its control over the alternatives has significantly decreased, falling from 55.1% to 54.5%.
SOL Up 5.5%
Yesterday, ApeCoin’s APE saw the most significant increase in the crypto market, jumping over 100% daily and reaching a six-month peak of $1.7 before settling back to approximately $1.5. This surge followed a significant announcement made by the team behind it.
Today, most altcoins are experiencing modest growth, but Ether stands out by surpassing $2,700 after a 3% rise. Bitcoin Cash, Chainlink, Uniswap, and Cardano have also seen notable price increases, while Solana is leading the pack among larger-cap alts with impressive gains today.
Overnight, the overall value of the cryptocurrency market increased by approximately $35 billion, bringing it close to a staggering $2.5 trillion for the first time in nearly three months.
Read More
- W PREDICTION. W cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- ZETA PREDICTION. ZETA cryptocurrency
- FutureNet Co-Founder Roman Ziemian Arrested in Montenegro Over $21M Theft
- AEVO PREDICTION. AEVO cryptocurrency
- SUKU PREDICTION. SUKU cryptocurrency
- WELT PREDICTION. WELT cryptocurrency
- NEXO PREDICTION. NEXO cryptocurrency
- NCT PREDICTION. NCT cryptocurrency
2024-10-21 11:50