The price of Bitcoin is bouncing back after a series of significant drops, currently sitting at around $65,000.

currently, Ethereum (ETH) and Binance Coin (BNB) have gained around 4% in value among altcoins, but Shiba Inu (SHIB) is drawing the most attention with its significant increase.

Bitcoin Aims at $65K

The week prior to Bitcoin’s fourth halving was marked by significant declines in value. The digital currency dropped from around $70,000 last Friday to $65,000, and then further down to $61,000 the following day.

By Monday, BTC had gained some momentum back. However, in the heart of the week, it experienced another significant decline due to heightened tensions between Iran and Israel. An additional drop occurred on Friday, driving BTC down below $60,000 – just hours before the highly-anticipated halving event was scheduled to take place.

Instead, the value of the cryptocurrency jumped more than $5,000 within the following 12 hours, reaching approximately $65,000 as the halving event came to an end.

After hitting an roadblock at $66,000 earlier today, Bitcoin’s price has stabilized around $65,000 once more. The cryptocurrency’s market capitalization hovers around $1.2 trillion currently, while its control over the alternative digital currencies has decreased slightly to roughly 51%.

Shiba Inu (SHIB) Explodes 18% Daily, Bitcoin (BTC) Taps $65K (Weekend Watch)

SHIB Takes the Main Stage

Over the last 24 hours, altcoins have outperformed Bitcoin with Shiba Inu, the second-largest meme coin, taking the lead. Shiba Inu’s value has surged by an impressive 18%, lifting its price above $0.000027.

Other lower-cap meme coins have also presented double-digit gains, such as BONK, FLOKI, and PEPE.

These cryptocurrencies – Solana, Avalanche, Bitcoin Cash, Dogecoin, Chainlink, Polygon, and Polkadot – are experiencing growth, with each one increasing by approximately 6-8%.

In just one day, the cumulative value of all cryptocurrencies has surged past $50 billion and now hovers above $2.5 trillion according to CoinMarketCap’s records.

Shiba Inu (SHIB) Explodes 18% Daily, Bitcoin (BTC) Taps $65K (Weekend Watch)

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2024-04-21 11:34