Bitcoin has experienced a week of volatility, causing significant price fluctuations. However, it seems to have found a balance point, hovering 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 a trendsetter in the market, was greatly influenced by positive rumors surrounding the potential approval of spot Ethereum ETFs by the US SEC. After a notable increase of $5,000 on Monday, the cryptocurrency reached nearly $72,000, its highest point in weeks.
Unfortunately, the optimism was short-lived, 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 and helped stabilize the price, allowing it to recover to $69,500 on Saturday. Despite this recovery, Bitcoin has not been able to surpass the $70,000 mark and is currently trading around $68,500, down 1%, with a market capitalization of $1.35 trillion.
Meanwhile, Ethereum not only continued its upward trend but also solidified its position above $3,900 with a 3.5% increase. Its strong performance indicates resilience in a market where other large-cap cryptocurrencies are moving slowly.
In the world 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 also showed notable performances with similar valuations.
Please note that the views and opinions expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Editor’s Choice: Bitcoin Reaches $68,000; Highlights Also Include SOL, BEAM, and INJ. Ethereum Price Maintains Stability Ahead of SEC Decision.