Bitcoin (BTC) has experienced a significant rise in value in the cryptocurrency market, briefly surpassing US$70 before stabilizing around US$68. Despite a decline to US$67, the main digital currency found support and stabilized near US$67,724.73, experiencing a 1% decrease in the last 24 hours. The global cryptocurrency market capitalization currently stands at $2.55 trillion, representing a 0.77% decrease.
Altcoins, such as SHIB and WIF, have undergone a remarkable recovery, with many of them turning the tide and achieving significant gains. SHIB, a popular meme coin, led the way with an impressive 15% increase, reaching approximately $0.00002945, even surpassing Cardano in terms of market capitalization. At the time of writing, the price of SHIB was quoted at US$0.00002718, indicating a 5% increase in the last 24 hours.
Bitcoin experienced a period of volatility amid discussions surrounding the potential approval of Ethereum ETFs by the US Securities and Exchange Commission (SEC), reaching a peak of nearly US$72,000. However, the cryptocurrency underwent a correction, dropping below $66,500 before recovering and rising back to $69,000, ultimately stabilizing above $68,000. This fluctuation reflects a market that is still adjusting to new interest rate conditions and regulatory expectations.
Other large-cap altcoins, including TON, RNDR, and ATOM, also recorded gains, albeit more modest ones. Ethereum (ETH) experienced a slight drop of 2% but remained above $3,800, indicating relative buyer resistance.
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