Markets
Bitcoin Price Targets $68K Again, Solana Rises to 2-Month High Above $185 (Weekend Watch)
The leading cryptocurrency reacted well to the mid-week price decline, falling below $63,500, and today it jumped above $68,000.
Most altcoins are also slightly in the green, except for XMR and MKR, which are down around 3-4% on the day.
BTC hits $68,000
It was a bumpy Friday for the largest digital asset, which surged from under $63,500 to $67,000 in a matter of hours. More volatility followed over the weekend, when current US President Joe Biden said he would not run for reelection despite his ongoing campaign.
BTC immediately dropped $2,000, but went on the offensive Sunday night and Monday. As such, it marked a 6-week high of over $68,400.
The bears were quick to intercept the move and did not allow further gains. Instead, the asset began to lose traction and fell hard on Thursday to a weekly low of $63,400.
However, the bulls he came out of the woods at that point and pushed a notable price increase on Friday that culminated today in another breakout of $68,000 once again despite the increasing flows towards trade.
Although bitcoin has now fallen to that level and has not managed to conquer it decisively, its market capitalization has jumped to $1.340 trillion, while its dominance over altcoins stands at close to 53%.
Bitcoin/Price/Chart 27.07.2024. Source: TradingView
SOL Sees Monthly Spikes
While spot Ethereum ETFs have seen massive outflows in their first few days of trading, the underlying asset’s price has managed to recover some ground after falling to $3,000 earlier this week. ETH is currently trading near $3,300.
BNB, ADA, AVAX, TRX, SHIB, and LINK are also slightly in the green on the daily scale. Solana and Dogecoin have seen even more impressive gains (5% and 3.5% respectively), which has helped the former hit a 2-month high of over $185.
The biggest gains among the 36 largest digital assets are coming from APT, KAS, RNDR and FIL. In contrast, XMR and MKR are down 3-4%.
The overall cryptocurrency market cap gained around $30 billion overnight and is approaching $2.55 trillion on CG.
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Cryptocurrency Charts by TradingView.