Bitcoin has experienced a week of intense volatility, causing significant price fluctuations. However, it seems to have found a balance point between $68,000 and $69,000. On the other hand, Ethereum has resumed its upward trajectory, surpassing the $3,900 level, thanks to the approval of spot ETFs based on ETH in the United States.
Bitcoin, often seen as the market leader, was greatly affected by positive rumors surrounding the potential approval of spot Ethereum ETFs by the US SEC. After a significant jump of $5,000 on Monday, the cryptocurrency reached its highest point in several weeks, almost hitting $72,000.
Unfortunately, the optimism didn’t last long, and Bitcoin experienced a sudden drop to $66,250 just moments before the US SEC confirmed the approval of eight of these financial products. However, buyers stepped in to stabilize the price, bringing it back up to $69,500 on Saturday. Despite this recovery, Bitcoin has been unable to surpass the $70,000 mark and is currently trading around $68,500, experiencing a 1% decrease. Its market capitalization stands at $1.35 trillion.
Meanwhile, Ethereum continues its upward trend, solidifying its position above $3,900 with a 3.5% increase. This exceptional performance demonstrates its resilience in a market where other large-cap cryptocurrencies are moving slowly.
In the realm of meme coins, PEPE continues to surprise with a 13% increase since yesterday, reaching a new all-time high of just over $0.000017. Other cryptocurrencies like FLOKI and BONK have also shown notable performances with similar valuations.
Disclaimer: The opinions expressed in this article, whether by the author or anyone mentioned, are for informational purposes only and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Editor’s Choice: Bitcoin reaches $68,000; notable performances also seen in SOL, BEAM, and INJ. Ethereum price remains stable ahead of SEC decision.