On Thursday, June 6, 2024, Bitcoin saw a brief surge in value, surpassing the $71,000 milestone, much to the excitement of investors. However, this upward trend was short-lived, as the price of the primary cryptocurrency dipped back down to around $70,800. This occurred amidst substantial investments flowing into Bitcoin ETFs, making it a noteworthy week for market optimists.
The weekend for Bitcoin began quietly, with its price stabilizing at $67,500 following a rebound from a recent low of $66,600. Monday brought a sense of positivity, with Bitcoin leaping past $70,000 before experiencing a minor decline to $68,700. Undeterred, investors launched a fresh attack on Wednesday, propelling the price to a 15-day peak of $71,800, coming within 3% of its all-time high from mid-March.
At the time of writing, the price of BTC stood at $71,392.54, marking a 0.5% increase in the past 24 hours.
In contrast to Bitcoin’s volatility, meme coins saw a decline after significant gains the prior day. Altcoins like BNB, SOL, XRP, DOGE, TON, ADA, SHIB, and DOT experienced marginal losses despite previous notable surges. LINK and UNI faced slightly larger drops of 2% and 4%, respectively. Among meme coins, WIF, FLOKI, and BONK recorded losses of 6%, 5%, and 4.5%, respectively. Pepe Coin, which had surged nearly 5% to approximately $0.00001520, corrected to $0.00001450, currently trading at $0.0000146.
The total global crypto market capitalization now stands at $2.65 trillion, reflecting a 0.34% increase from the previous day.
Disclaimer: The opinions expressed in this article are for informational purposes only and do not constitute financial advice. Investing in cryptocurrencies carries a risk of financial loss.
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