The weekend has been quite positive for Bitcoin as it continues its upward climb, reaching a five-day peak of just below $70,000.
Most alternative cryptocurrencies, or altcoins, are also showing modest gains, with Ethereum (ETH) approaching $3,400 and Binance Coin (BNB) hovering close to $600.
BTC Targets $70K Bitcoin’s performance last weekend was notably strong, with the cryptocurrency holding steady around $70,000 and even flirting with $71,000 on Sunday evening. However, bearish pressure intensified at this point, leading to a sharp decline in Bitcoin’s price.
This downward trend saw BTC dropping to $68,500 by Monday and experiencing an even steeper fall to below $66,000 by Tuesday. The bearish momentum continued, with BTC hitting a ten-day low of under $64,500 by Wednesday.
But the bulls staged a comeback, initiating a notable rally that briefly pushed BTC above $69,000. Despite another rejection that drove prices down to $66,000 on Friday, the weekend brought renewed positivity. Bitcoin regained some lost ground, stabilizing around $67,000-$68,000 yesterday. Earlier today, a surge saw BTC briefly hitting $69,800, spurred by increased whale activity.
Bitcoin’s market capitalization now stands at $1.365 trillion on CoinGecko, with its dominance over other cryptocurrencies hovering around 50.3%.
WIF and DOGE Showing Strength Among the larger-cap altcoins, Dogecoin (DOGE) and WIF token have emerged as top performers. DOGE, the original meme coin, surged by almost 9% in a day, approaching $0.2. Predictions abound that DOGE could reach $1 during this bullish cycle.
WIF experienced a remarkable 12% surge, reaching $3.7, while MNT followed suit with a 6% increase, bringing it to $1.4.
Other larger-cap altcoins, including ETH, BNB, SOL, XRP, ADA, and TON, also recorded modest gains of around 1-2% in a day. Further increases were seen in Avax (4.4%), SHIB (3.5%), and UNI (3%).
The total crypto market capitalization surpassed the $2.7 trillion mark after a $40 billion surge in a single day.
