Markets
Bitcoin (BTC) Price Heads to $66,000, Polkadot (DOT) Slips Below $6 (Market Watch)
Bitcoin’s weak price action continued over the past 24 hours as the asset’s most notable increase came in the form of an $800 gain to nearly $66,000 today.
Today, altcoins are mostly seeing smaller gains. TON, NEAR and RNDR are in the lead, but they too have been vastly overtaken by Fetch.ai’s FET.
BTC Fails at $66,000
The leading cryptocurrency had a violent end to the previous business week, plummeting from over $67,000 to $65,000 in a matter of hours on Friday. It rebounded over the weekend and spent most of the time trading sideways at just over $66,000.
After another decline towards $65,000 on Monday, bitcoin reversed its trajectory and reached $67,200 again. However, it failed there and was pushed up to $64,000 on some occasions, which allowed some whales to return the ecosystem in the midst of growing ETF outflows.
It recovered ground yesterday during the American national holiday in which trading on Wall Street was suspended. Further gains came today, when the asset briefly rose towards $66,000, but failed to break above that level and now sits just inches below it.
However, volatility has been quite subdued in recent days. This means that Bitcoin’s market capitalization remains below $1.3 trillion and its dominance over alts has seen a slight decline to 51.3%.
Bitcoin/Price/Chart 06.20.2024. Source: TradingView
FET takes to the main stage
Perhaps fueled by Nvidia’s massive growth this year, several AI-related tokens have done so skyrocketed in the past day. Fetch.ai’s native currency is al on the front line with a massive 30% increase pushing it to just over $1.7 today.
Further gains come from the likes of NEAR (9%), RNDR (6.5%) and TON (5%). The rest of the larger-cap alternatives are also mostly in the green, but more modestly.
In contrast, SOL, UNI, DOT and LEO are slightly in red.
The total cryptocurrency market capitalization has recovered around $50 billion from the mid-week low and now exceeds $2.5 trillion on CG.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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Cryptocurrency charts from TradingView.