Bitcoin
Bitcoin Surpasses $67K as Altcoins See Considerable Gains (Weekend Watch)
The cryptocurrency market staged a massive recovery yesterday after starting the day very slowly and even declining considerably. However, buyers stepped in and pushed Bitcoin above $67K, while many altcoins are recording impressive returns.
Bitcoin surpasses $67,000
Bitcoin’s price is up around 5% on the day, making an impressive recovery after falling to $63,000 early in yesterday’s morning trading session.
It managed to chart a local daily high at $67,400 on Bitstamp, but has since fallen back to where it currently trades at $66,600. This is still an impressive performance, and the bulls may be consolidating now in preparation for a fresh rally towards the $70K level.
When zoomed in on an hourly view, the price appears to have returned to an uptrend, and it will be interesting to see if this will take Bitcoin to $70k, which appears to be the next important level.
Altcoins in a sea of green
It’s not just Bitcoin that’s seeing impressive gains — it’s the entire market. As seen in the heatmap below, all large-cap altcoins are seeing significant gains.
Some of the most notable performers include DOGE, which managed to record an increase of around 7.3%, SOL – an increase of almost 6%, AVAX – an increase of 5.4%, NEAR – an increase of over 6%, and so on.
SEI and ORDI are today’s top performers, rising 18.5% and 16.4% respectively. POPCAT and BONK are the memecoins that fared best, rising 16% and 13.2%.
It is interesting to note that all top 100 cryptocurrencies by total capitalization are in the green, showing the strength of the market over the last 24 hours.
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Cryptocurrency Charts by TradingView.