PNUT Surges 200%, Bitcoin Struggles at $90K

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by Giorgi Kostiuk

2 years ago

Significant shifts occurred in the cryptocurrency market: Bitcoin attempted to soar past $90,000 but fell short, while PNUT made a remarkable leap, joining the top 100 market cap rankings.

Bitcoin Reaches $90,000

Bitcoin experienced a volatile trading period last week. It started on Wednesday morning when Trump took a lead in the US elections, causing the cryptocurrency to break its March high of $73,737 and surge past $75,000. The weekend saw BTC climb to $80,000, and Monday began with a push nearing $90,000. Despite attempts, it couldn't hold, with rejections causing a retreat amidst strong interest in Bitcoin spot ETFs in the US. Currently, BTC trades around $87,500. Its market cap slipped to $1.740 trillion, but dominance soared above 57%.

PNUT Joins Top 100

The meme cryptocurrency PNUT made headlines as it recorded impressive gains. It has skyrocketed by four digits since the launch and surged 220% in the last 24 hours, reaching the top 100 by market capitalization with a value of $1.3 billion.

Overall Market Overview

Despite PNUT's success, most other altcoins lost momentum. Ethereum dropped by 6% and now struggles to stay above $3,150. SOL, BNB, and TON posted similar declines, while AVAX, ADA, DOGE, SHIB, and AVAX fell by up to 14%. TRX and SUI were the only exceptions, remaining in green. The total crypto market cap declined by over $100 billion from the all-time high of $3.1 trillion.

It was a dynamic week for Bitcoin, temporarily reaching an all-time high but failing to sustain, and for PNUT, strengthening its market position significantly. The cryptocurrency market remains volatile, with participants closely watching its next moves.

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