SHIB, PEPE Post Major Daily Gains, BTC Price Recovers From Sub-$63K Dip (Market Watch)
Release: 2024/09/26 16:49 Reading: 255
Bitcoin Rebounds, Altcoins Surge
Bitcoin's price underwent a brief correction, dipping below $62,800 earlier today. However, it has since recovered, trading near $64,000.
Altcoin Surge
Several altcoins have witnessed impressive gains in the past 24 hours. Notably, DOGE, TON, and ADA have posted significant increases. However, SHIB and PEPE have outperformed all others.
BTC Recovers from Sub-$63K Dip
Bitcoin's recent surge began late last week when the US Fed cut interest rates. It climbed from under $58,000 to over $60,000 and has maintained its momentum.
On Friday, Bitcoin reached $64,000 and approached that level again yesterday. However, it faced resistance, leading to a drop to $62,750 (Bitstamp).
Despite the setback, Bitcoin quickly rebounded and has regained most of its losses, trading close to $64,000. This volatility occurs amidst increasing inflows into Bitcoin spot ETFs.
Bitcoin's market capitalization remains around $1.260 trillion, while its dominance over altcoins has slightly declined to 53.7%.
SHIB, PEPE Soar
Shiba Inu (SHIB) has emerged as the top daily performer among large-cap altcoins, with a 13% surge. It is currently trading at $0.000017.
PEPE, another meme coin, has also gained ground, rising 7% to reach $0.000009. DOGE, the leader of the meme pack, has also seen a 4% increase.
Market Overview
The total crypto market capitalization has climbed slightly to $2.350 trillion. Larger-cap altcoins such as ETH, BNB, XRP, and LINK have experienced minor losses.
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