On Thursday, June 6, 2024, Bitcoin witnessed a brief surge in value, surpassing the $71,000 mark, much to the delight of investors. However, this rally was short-lived as the leading cryptocurrency retreated to around $70,800. This occurred amidst significant inflows into Bitcoin ETFs, making it a notable week for market bulls.
The weekend started off calmly for Bitcoin, with the price stabilizing around $67,500 after recovering from a recent low of $66,600. Monday brought a sense of optimism as Bitcoin jumped to over $70,000 before experiencing a small pullback to $68,700. Undeterred, investors launched a new offensive on Wednesday, propelling the price to a 15-day high 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, reflecting a 0.5% increase over the past 24 hours.
In contrast to Bitcoin’s volatility, meme coins, which had seen substantial gains the previous day, experienced a decline. Altcoins like BNB, SOL, XRP, DOGE, TON, ADA, SHIB, and DOT only suffered minimal losses despite their previous notable increases.
LINK and UNI experienced slightly larger drops of 2% and 4%, respectively. Among the meme coins, WIF, FLOKI, and BONK recorded losses of 6%, 5%, and 4.5%, respectively. Pepe Coin, after experiencing an increase of almost 5% to nearly US$0.00001520, corrected to US$0.00001450 and is currently trading at US$0.0000146.
The global crypto market capitalization currently stands at $2.65 trillion, representing a 0.34% increase from the previous day.
Disclaimer: The opinions expressed in this article, whether by the author or anyone mentioned, are solely for informational purposes and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
Editor’s Choice: While Ethereum surpasses $3,800, Bitcoin remains below $68,000. Meanwhile, NOT experiences an impressive 320% surge.