Bitcoin’s price tumbled below $63,000 yesterday, but the bulls seem back in control as they have pushed the asset toward $64,000 once again.
Bitcoin Aims at $64K
After the slow start to the previous week, when it dropped to $57,600, bitcoin experienced a true rollercoaster by the end of the five-day trading period that ended on Friday, especially during and after the Wednesday FOMC meeting, in which the US Fed announced a 0.5% reduction in the key interest rates. BTC recorded several substantial price moves before it headed north decisively. In just a few days, it peaked above $64,000 before it lost some ground during the weekend and remained around $63,000. The bulls went at it again on Monday morning and drove the asset to its highest price level in over four weeks of $64,800. However, it failed to conquer that level and the subsequent rejection pushed it south to under $63,000 yesterday. Nevertheless, the cryptocurrency has gained around a grand since then and is now close to $64,000. Its market cap has neared $1.260 trillion on CG but its dominance over the alts is just shy of 54%.
NEAR Sees Double-Digit Gains
Binance Coin, Solana, and Cardano have emerged as the top performers from the larger-cap alts today. BNB has reclaimed the $600 level after a 2.6% daily increase, SOL is close to $150 after gaining 3%, while ADA has soared by 5% and stands at $0.36. Although the rest of the larger caps are also in the green, their gains are a lot more modest. NEAR Protocol’s native token has jumped by 8% on a daily scale and 20% since Sunday and now trades above $5.2. Other impressive gainers from the top 100 alts include AR (16%), TIA (15%), WIF (11%), LDO (9%), ICP (9%), and STX (9%).
Cryptocurrency Market Overview
The total crypto market cap has added another $20 billion overnight and is at $2.340 trillion on CG.
The cryptocurrency market shows significant changes, with Bitcoin and other major altcoins demonstrating notable recovery and growth.
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