As a seasoned researcher with years of experience in following the cryptocurrency market, I have seen my fair share of price fluctuations and volatility. The recent surge in Bitcoin’s (BTC) price to hit $66,000 for the first time since June is an exciting development that I’ve been closely monitoring. However, this isn’t the first time BTC has faced extreme turbulence – I remember when it plummeted from over $64,000 to under $54,000 in a matter of days just last month.
In the midst of continuous buying interest in Bitcoin ETFs, the cryptocurrency’s price bounced back and reached a new high of $66,000 for the first time in about a month.
The altcoins are also well in the green, with XRP leading the pack following a 13% daily surge.
BTC Stopped at $66K
The beginning of the month brought significant volatility to Bitcoin’s price movements, resulting in a steep decline to a three-month low of approximately $54,000 on July 5. However, since then, the digital currency has bounced back, regaining over $10,000 in value.
The price of Bitcoin surged to $58,000 right from the get-go in the ensuing sell-off, where it remained for an extended period. However, it wasn’t until the failed assassination attempt against US presidential candidate Donald Trump over the weekend that triggered a significant spike, enabling Bitcoin to regain the $60,000 threshold once more.
As a crypto investor, I’ve experienced significant gains at the beginning of this business week. Yesterday, bitcoin surged to an all-time high of $63,000 for me, and it continued climbing in the last 24 hours, adding another $3,000 to its value. This resulted in a new milestone of reaching $66,000 for the first time since June 2021.
Although it has incurred a loss of approximately $1,000 since then, the current value of bitcoin hovers around $65,000. Its market capitalization is currently above $1.28 trillion, and its control over the alternatives remains stable at 51.2% on CoinGecko.
XRP on the Run
The native token of Ripple has taken the lead as the top gainer today, experiencing a significant increase of over 13% in the last 24 hours. Its current price now hovers above $0.6, marking a multi-month high for this asset. Similarly, FET, another larger-cap altcoin, has witnessed a notable surge and is currently priced at $1.5.
As a crypto investor, I’ve noticed some impressive gains among the crypto assets in this cohort. SOL has seen a 6% increase, DOGE has managed a 5% rise, AVAX has surged by 8%, DOT and APT have both gained 5% and 10% respectively, XLM has climbed by 8%, and ATOM has also risen by 8%.
In simple terms, the total value of all cryptocurrencies combined has increased by over $80 billion in a single day and currently stands at approximately $2.5 trillion according to CoinMarketCap.
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2024-07-17 11:40