Markets
Pepe Rises 9% Daily, Bitcoin Price Targets $62,000 After Recent Crash (Market Watch)
Bitcoin’s price recovery after the recent market crash continued over the past 24 hours: the asset jumped to just under $62,500, but there it gave ground and lost several hundred dollars.
Altcoins are also slightly in the green on a daily scale, with ETH touching $3,400 and BNB closing at $580.
BTC Eyes $62,000
It happened less than a week ago, last Thursday, when the price of bitcoin exceeded $66,000. However, it began losing ground on Friday, slipping below $64,000 and bouncing just above that level over the weekend. Saturday and Sunday passed in silence, with little to no action.
The landscape changed for the worse on Monday, when bears took control of the market disturbing news about Mt. Gox and pushed BTC forcefully south. In a matter of hours, the cryptocurrency plummeted to $58,450 for the first time in nearly two months.
AS Warning signs it started to look like the asset could drop to $50,000 and even $45,000, BTC actually reversed its trajectory and yesterday morning it jumped to $61,000. It continued to rise throughout the day and later touched $62,400 (on Bitstamp).
However, bitcoin failed there and fell back by almost a thousand dollars. Its market capitalization is less than $1.22 trillion and its dominance over alternatives has fallen to 50.7%.
Bitcoin/Price/Chart 26.06.2024. Source: TradingView
PEPPER growing
Altcoins suffered as much as BTC earlier in the week and recorded multi-month lows. The situation is slightly better now, with smaller gains from ETH, BNB, SOL, TRX and DOT.
DOE, SHIB, AVAX, and LINK increased by around 3%, while XRP, TON, and ADA recorded insignificant losses.
PEPE and STX emerged as the top performers among the 36 major crypto assets, with increases of 9%. NOT has risen even more, having risen 14% in the past day.
The total cryptocurrency market capitalization increased by 1.1% in the last 24 hours to $2.4 trillion on CG.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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Cryptocurrency Charts from TradingView.