Bitcoin
Bitcoin Surpasses $63K as Solana (SOL) Rises Towards $150: Market Watch
The start of the new week saw the total cryptocurrency market attempt a recovery, with its capitalization pushing towards the all-important $2.5 trillion market, up 2.6% on the day.
Bitcoin price is now around $63K, and most altcoins are also recording gains. Important events are happening this week that are worth watching, so let’s dive in.
Bitcoin price rises to US$63 thousand
At the time of writing, the price of Bitcoin is trading around $62,800, having reached a daily high of around $63,700. This represents a 2.6% increase in the last 24 hours for the primary cryptocurrency.
It is interesting to see if BTC will be able to hold on to these gains and build on them or if the bears will be able to push the price back towards $60K.
In any case, as we reported Earlier today, some analysts are certain that July will be a good month for Bitcoin. They argue that it has historically been a month of gains, especially after a red June (as it was this year).
However, as mentioned earlier, there are some important economic events that will occur in the US this week that could have an impact on price action. These are:
- ISM manufacturing PMI data for June – on Monday.
- Fed Chairman Powell will speak – on Tuesday.
- JOLTs employment data – on Tuesday.
- Fed meeting minutes – Wednesday.
- The stock market will be closed – on Thursday.
- June jobs report data – out Friday.
Solana Leads Altcoin Recovery
Many of the large-cap altcoins are also trading nicely in the green, with SOL being a notable example. The cryptocurrency is up 4.6% and is now approaching $150.
LINK increased by 5.31%, AVAX – by almost 6%, NEAR – by 5% and so on.
Interestingly, some categories perform much better compared to others. For example, meme coins on Solana and Base averaged gains of between 13% and 9%, respectively.
This is considerably higher compared to the overall meme coin category (across all chains and all themes), which is up around 3%.
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