Bitcoin (BTC) Stopped Ahead of $70K, Pepe (PEPE) Resumes Bull Run (Market Watch)


Bitcoin’s price went on a volatile ride in the past 24 hours by dumping to $67,100 and later skyrocketing to almost $70,000 before it was stopped.

The altcoins are with minor gains overnight, while Pepe has resumed its bullish trajectory with a 9% daily surge.

BTC’s Down and Up and Down Ride

After a quiet weekend in which BTC stood primarily around $69,000, the start of the current business week was quite positive. The asset went to a multi-day peak of just over $70,500 after gaining a grand and a half in hours.

However, the bulls failed to maintain this run and bitcoin started to lose value quite rapidly in the following days. In fact, the cryptocurrency had lost more than $3,000 just a day later.

More volatility ensued on Wednesday and especially on Thursday that drove BTC south once again to $67,100 before the asset skyrocketed to a daily peak of over $69,500. Nevertheless, it failed to challenge the coveted $70,000 line this time, and has returned to around $68,000 as of now.

Its market cap stands below $1.350 trillion but its dominance over the alts is above 50% on CG.

Bitcoin/Price/Chart 31.05.2024. Source: TradingView

PEPE on the Rebound

The third-largest meme coin repeatedly made the headlines in the past few weeks by charting fresh all-time highs. However, it dumped hard yesterday by double digits. The landscape today is quite different for PEPE as it has soared by over 9% to reclaim the $0.000015 level.

The top gainers from the largest 100 altcoins include JASMY (27%), BEAM (25%), and ORDI (18%).

The larger-cap alts are a lot less volatile. Ethereum, Binance Coin, Solana, Ripple, Dogecoin, and Toncoin are all up by around 0.5% to 1%.

The total crypto market cap has recovered some ground on a daily scale, but it is still way below $2.7 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Cryptocurrency charts by TradingView.



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