The value of Bitcoin (BTC) in the cryptocurrency market has experienced a significant rise, briefly surpassing $70 before settling around $68. Although it experienced a decline to $67, the primary digital currency received support and stabilized near $67,724.73, representing a 1% drop in the last 24 hours. The global cryptocurrency market capitalization currently stands at $2.55 trillion, indicating a decrease of 0.77%.
Altcoins, particularly SHIB and WIF, have demonstrated an impressive recovery, with many of them experiencing substantial gains. Shiba Inu (SHIB), a popular meme coin, led the way with a remarkable 15% increase, reaching approximately $0.00002945 and even surpassing Cardano in terms of market capitalization. At the time of writing, the SHIB price is quoted at $0.00002718, reflecting a 5% increase in the last 24 hours.
Bitcoin encountered a period of volatility following discussions about the potential approval of Ethereum ETFs by the SEC in the United States, reaching a peak of nearly $72,000. However, after a correction below $66,500, the cryptocurrency rebounded and rose back to $69,000 before stabilizing above $68,000. These fluctuations indicate a market that is still adjusting to new interest rate conditions and regulatory expectations.
Other major altcoins such as TON, RNDR, and ATOM also experienced gains, although they were more modest. Ethereum (ETH), despite a slight 2% drop, managed to remain above $3,800, showcasing relative strength from buyers.
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