Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Bitcoin experienced a surge in the last 24 hours, bringing it very close to the significant $30,000 mark. However, the cryptocurrency has not yet surpassed this threshold.
Altcoins are also experiencing upward movement, with ETH approaching $2,000, while SOL and UNI have increased by 4% over the day. Nonetheless, the standout performers today are PEPE and Floki Inu.
Bitcoin Halted Before $30K
The workweek, coinciding with the start of a new month, began poorly for bitcoin, which dropped by approximately two thousand dollars within hours, reaching a multi-day low of $27,650 (on Bitstamp). However, bulls were able to defend the asset’s position, pushing it back above $28,000 shortly thereafter.
The FOMC meeting did not disrupt BTC‘s momentum either. The recent interest rate increase of 25 basis points, potentially the final one, had no immediate impact on bitcoin. A few hours later, the asset began to appreciate in value, reclaiming the $29,000 mark.
In the last 24 hours, bitcoin saw another price increase that brought it just below $30,000. Nevertheless, BTC has yet to break through this level and currently sits around $500 beneath it.
Thank you for subscribing; your first report will arrive in the coming hours!
Its market capitalization has approached $570 billion, while its dominance over altcoins stands at 47%.
Related Posts
BTCUSD. Source: TradingView
PEPE, FLOKI on the Rise
The last few days have been dominated by a relatively new cryptocurrency – PEPE. Launched in mid-April, it is primarily a memecoin without significant utility. However, the crypto market is known for such projects rapidly gaining popularity and value, which has occurred with PEPE.
It has frequently recorded double and even triple-digit daily increases, leading to its entry into the top 100 and even the top 50 digital assets by market capitalization as of yesterday. The latest surge was triggered by Binance’s announcement of listing PEPE, along with Floki Inu, in its innovation zone.
As expected, FLOKI has also surged significantly – experiencing over a 40% increase in the past 24 hours. This memecoin is now also among the top 100 coins by market cap, trading near $0.00005.
The top ten altcoins have seen considerably more modest price gains, with Ethereum rising by 3.6% and Solana by 4%. Uniswap has reached $5.5 following a similar daily increase.
The total cryptocurrency market capitalization has regained the $1.2 trillion mark after an increase of approximately $20 billion over the day.
Cryptocurrency Market Overview. Source: Quantify Crypto
SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
