BTC Recovers from Dip, SHIB and PEPE Soar
BTC Recovers From Dip Below $63K
The primary cryptocurrency skyrocketed at the end of last week after the US Fed reduced the key interest rates for the first time in over four years, from under $58,000 to over $60,000, and hasn’t looked back since.
The bulls took it to $64,000 on Friday morning and even further this week. As reported before, the asset jumped to $64,800 on a couple of occasions, with the latest transpiring yesterday. However, the bears managed to defend that level, and the subsequent rejection pushed BTC south to $62,750 (on Bitstamp) earlier today.
Nevertheless, the cryptocurrency bounced off and has added about a grand, currently trading close to $64,000 once again. These volatile moves came despite the growing net inflows in the spot Bitcoin ETFs.
This means that its market capitalization stands at a familiar ground of $1.260 trillion, but its dominance over the alts has taken another minor hit and is down to 53.7% on CG.
SHIB, PEPE Shoot Up
When it comes down to daily gains from the larger-cap alts, Shiba Inu takes the main stage with a massive 13% surge. The popular meme coin has risen to $0.000017, and you can find out more about its price increase here.
Another rep of the meme realms, PEPE, follows suit with a 7% jump that has driven it to $0.000009. Their leader, DOGE, has gained over 4% in the past day. The other notable performers include TON, ADA, DOT, and NEAR.
The rest of the larger-cap alts are a lot calmer, with minor losses from ETH, BNB, XRP, and LINK.
The total crypto market cap has increased slightly once again and is now up to $2.350 trillion on CG.
Market Overview
The cryptocurrency market has seen significant fluctuations in recent times. The total crypto market capitalization has increased slightly, and the dominance of Bitcoin has taken a minor hit.
The market is expecting a significant increase in adoption and usage of cryptocurrencies in the coming years. Many experts believe that the crypto market will continue to grow and become a major part of the global financial system.
However, there are also concerns about the volatility of the market and the potential risks associated with investing in cryptocurrencies. Investors should always do their own research and consult with a financial advisor before making any investment decisions.
Conclusion
In conclusion, the cryptocurrency market is experiencing significant fluctuations, and the dominance of Bitcoin has taken a minor hit. The market is expecting a significant increase in adoption and usage of cryptocurrencies in the coming years. However, there are also concerns about the volatility of the market and the potential risks associated with investing in cryptocurrencies. Investors should always do their own research and consult with a financial advisor before making any investment decisions.
FAQs
Q: What is the current price of Bitcoin?
A: The current price of Bitcoin is close to $64,000.
Q: What is the market capitalization of Bitcoin?
A: The market capitalization of Bitcoin is $1.260 trillion.
Q: What is the daily gain of Shiba Inu?
A: The daily gain of Shiba Inu is 13%.
Q: What is the current price of PEPE?
A: The current price of PEPE is $0.000009.
Q: What is the total crypto market cap?
A: The total crypto market cap is $2.350 trillion.
Q: What is the dominance of Bitcoin over the alts?
A: The dominance of Bitcoin over the alts is down to 53.7% on CG.
