Dogecoin (DOGE) Surges 5% Daily, Bitcoin (BTC) Climbs Over $61K (Weekend Update)
Bitcoin’s price action saw a return to a more stable state over the weekend, with the cryptocurrency holding steady above $61,000. While Bitcoin remained relatively unchanged, altcoins experienced positive movements, with BNB and DOGE emerging as top performers among the larger market cap coins.
The weekend prior was dominated by bearish sentiment, resulting in a significant drop in Bitcoin’s price from $66,000 on Friday to $57,000 by Sunday. The downward trend continued into Monday, with prices plummeting to $49,500, marking Bitcoin’s lowest point in six months. However, a recovery began shortly after, leading to a surge to nearly $63,000 by Friday morning, showcasing a noteworthy $13,000 gain within a week.
Despite this initial rebound, Bitcoin’s price retraced slightly, leading to choppy market conditions. Nevertheless, the cryptocurrency managed to maintain levels above $61,000 in the following 24 hours. Bitcoin’s market capitalization has exceeded $1.2 trillion, with its dominance over other altcoins slightly decreasing to just under 54% after a recent multi-year milestone.
In the altcoin space, DOGE experienced a notable 5% increase, reaching $0.11 for the first time in days. Binance Coin also saw significant growth, surging by over 4% to surpass $530. Other altcoins such as ETH, SOL, XRP, ADA, AVAX, SHIB, and BCH also showed minor gains, while TON was among the few larger-cap altcoins in the red.
Mid-cap altcoins Aptos and FET stood out as top performers, with gains of 7% and 9%, respectively. The overall crypto market cap saw an overnight increase of approximately $20 billion, reaching $2.245 trillion on CG.
The recent market movements highlight the dynamic nature of the cryptocurrency space, with Bitcoin maintaining its position above $61,000 while altcoins like DOGE and BNB demonstrate strong performance. As the market continues to evolve, investors closely monitor these fluctuations for potential opportunities and risks within the crypto landscape.
