Crypto News Today (Oct 22nd, 2024): BTC Below $67k, ETH Aim For $3k, Memecoin Showing Gains!
Release: 2024/10/23 00:44 Reading: 754
Market Update: Bitcoin Dips Amidst Geopolitical Tensions
October 22nd, 2024
The cryptocurrency market experienced a slight decline today, totaling a 2.2% loss to $2.34 trillion. Geopolitical tensions and electoral uncertainties in the United States contributed to the downturn.
Bitcoin Price Retraces
Bitcoin, the largest cryptocurrency, has retreated to $67k, marking a 2.4% decrease. Despite briefly reaching $69,000 earlier this month, it has failed to maintain the upward trajectory. Analysts attribute the drop to the uncertainty surrounding the US presidential election, leading investors to seek safer assets such as gold and the US dollar.
Ethereum's Rise Towards $3k
Ethereum has outperformed Bitcoin recently, showing resilience despite the overall market dip. Experts project that Ethereum's price could soon break the $3k mark, provided it remains above $2,700.
Memecoins Gain Traction
Memecoins have been a bright spot in the market, with the Fear & Greed Index indicating an increase in "Greed." Investors are optimistic about a potential bull run, driving up the prices of popular memecoins like Dogecoin, Bonk, and Pepe. Dogecoin has surged over 15% this week, while Pepe, the third-largest memecoin, has experienced a 28% gain over the past 30 days.
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