- Bitcoin’s price recovery peaked at $64,500 yesterday but has since retraced by over a grand.
- Most larger-cap altcoins are slightly in the red on a daily scale, with TON, ADA, and SHIB declining by 2-4%.
- Dogecoin continues its impressive run, jumping by another 6% in the past 24 hours.
Bitcoin’s price recovery hits a speed bump, while Dogecoin continues its impressive run. Get the latest updates on the crypto market.
Bitcoin’s Recovery Halted at $64.5K
Bitcoin’s price recovery tour took it to a multi-day peak of $64,500 yesterday. However, the cryptocurrency failed to maintain this upward trajectory and has retraced by over a grand since then. Despite this, Bitcoin still trades above $63,000, and its dominance over altcoins has neared 51%. On the other hand, its market cap has declined to $1.244 trillion.
Dogecoin Continues Its Impressive Run
The largest meme coin, Dogecoin, has only doubled down on its run. DOGE has jumped by another 6% in the past 24 hours and now trades at $0.16. Other noteworthy gainers from the top 36 altcoins include RNDR, which has soared to $9 after an 8.5% daily increase, and AVAX, LINK, and NEAR, which are also in the green.
Altcoins in the Red
In contrast, TON, SHIB, and ADA have declined by somewhere between 2-4%. Other altcoins such as ETH, BNB, SOL, and XRP are also in the red, albeit in a less painful fashion. The total crypto market cap has declined by around $40 billion since yesterday’s peak and is now down to $2.450 trillion.
Conclusion
While Bitcoin’s price recovery has hit a speed bump, the crypto market continues to show signs of volatility. Dogecoin’s impressive run serves as a reminder of the potential for high returns in the crypto market. However, the declines observed in several altcoins underline the risks involved. As always, investors are advised to conduct thorough research and exercise caution when navigating the crypto market.
