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After skyrocketing by five grand in hours and tapping a multi-month peak, bitcoin’s price rally has calmed, and the asset slipped below $70,000 earlier today.
The altcoins’ performances are quite varying, as $ETH, $DOGE, and $SHIB have posted 3% gains, while $TON, $ADA, and $NEAR are in the red.
$BTC Calms at $70K
There were quite several days at the end of the previous business week in which $BTC recovered some ground and stood primarily in a range between $66,000 and $67,000. The weekend was no different as the asset failed to overcome the latter.
However, the landscape changed a lot on Monday amid rumors that the US SEC could greenlight spot Ethereum ETFs as early as this week. $BTC, alongside most of the market, reacted with an immediate price surge that drove it from around $67,000 to $72,000, which became its highest price tag since April 9.
After this impressive rally, the bears finally reemerged at the scene and initiated a minor pullback that drove $BTC south to under $70,000 earlier today. As of now, the asset has managed to remain around that level but there are some uncertainties about its short-term future.
Bitcoin’s market cap has declined to $1.380 trillion, while its dominance over the alts is down to 50.4% on CG.
$PEPE, $FLOKI Keep Pumping
Expectedly, $ETH was the biggest winner from the positive spot Ethereum ETF news as it skyrocketed by over 20% in hours. Similar to $BTC, Ether also charted a multi-week peak of over $3,800. Despite retracing slightly since that high, $ETH is still in the green on a daily scale, trading closely to $3,800.
$DOGE and $SHIB are the other larger-cap gainers, having jumped by 3% each. In contrast, $TON, $ADA, BCH, and $NEAR have declined by 3-5%.
The most substantial gains over the past day come from two meme coins. $FLOKI has soared by 13%, while $PEPE has exploded by 26% and charted a new all-time high today.
The total crypto market cap has declined slightly but it is still close to $2.750 trillion.
