SHIB, PEPE Post Report Big Daily Gains, BTC Price Recovers After Falling Below $63K (Market Watch)

Bitcoin’s price took a sharp turn for the worse today, falling below $62,800, but it managed to recover all its losses and is now approaching $64,000.

Some altcoins such as DOGE, TON and ADA have seen impressive gains over the past day, but SHIB and PEPE are in a league of their own.

BTC is recovering after falling below $63 thousand.

The major cryptocurrency surged late last week after the US Federal Reserve cut key interest rates from under $58,000 to over $60,000 for the first time in more than four years and hasn’t looked back since.

Bulls took the price to $64,000 on Friday morning and even higher this week. As previously reported, the asset has jumped to $64,800 several times, the last time happening yesterday. However, the brewers managed to defend this level and the subsequent failure pushed BTC down to $62,750 (on Bitstamp) earlier today.

However, the cryptocurrency rebounded to gain around $64,000. These volatile moves came despite rising net inflows into spot Bitcoin ETFs.

This means its market capitalization is at the familiar level of $1.260 trillion, but its dominance over alternative currencies has taken another minor hit, falling to 53.7% by CG.

SHIB, PEPE Shoot

When it comes to daily returns from larger cap stocks, the Shiba Inu comes out on top with a whopping 13% gain. The popular meme coin has risen in price to $0.000017, and more details about its increase can be found here.

Another member of the meme sphere, PEPE, followed suit, rising 7%, bringing the price to $0.000009. Their leader, DOGE, added more than 4% over the past 24 hours. Other notable artists include TON, ADA, DOT and NEAR.

The rest of the larger cap altcoins are much quieter, with minor losses from ETH, BNB, XRP and LINK.

The total cryptocurrency market capitalization has increased slightly again and has now reached $2.350 trillion on CG.


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