Bitcoin’s positive price movements took it to a new multi-month peak of almost $68,500 yesterday, but the asset lost some traction and now sits above $67,000.
The altcoins are also quite sluggish today, with XRP gaining 2.5%, while two meme coins have risen the most.
BTC’s Way Up
It’s safe to say that was a positive seven-day period for the primary cryptocurrency. Precisely a week ago, the bears seemed in complete control of the market as they pushed it south hard to a multi-week low of under $59,000.
However, the bulls stepped up their game at this point and didn’t allow any further pain. Just the opposite, BTC started regaining traction quickly and stood around $63,000 during the weekend. The business week started on an even more positive note, with a surge toward $68,000 on Tuesday.
After a sudden and violent $3,000 correction, bitcoin went on the offensive once again and jumped to $68,450 (on Bitstamp) yesterday, which became its highest price tag since late July.
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Nevertheless, it failed to maintain its run despite the massive inflows into the spot BTC ETFs and now sits over a grand lower. Still, its market cap remains at $1.330 trillion, while its dominance over the alts is at a multi-year high of 55% on CG and 59% on other monitoring resources.
Memes in the Zone
Most of the larger-cap alts have remained sluggish on a daily scale. ETH, BNB, SOL, DOGE, TRX, and TON have produced either minor gains or insignificant losses. Ripple’s XRP has gained the most – 2.4%, and now trades above $0.55.
The top performers from the largest 100 alts are meme coins. BONK has surged by 7% and now sits close to $0.000024, while NEIRO is up by 5.5% and has a price tag of $0.00199. SUI, POPCAT, and XLM follow suit.
The total crypto market cap has remained at essentially the same spot as yesterday at around $2.420 trillion on CG.
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Cryptocurrency charts by TradingView.