Bitcoin’s price has once again surged towards $68,000, rebounding strongly from the mid-week drop below $63,500. Most altcoins are also experiencing minor gains, except for XMR and MKR, which have seen declines of around 3-4% daily. Last Friday, Bitcoin experienced significant volatility, jumping from under $63,500 to $67,000 in just a few hours. Over the weekend, the asset faced further price fluctuations due to President Joe Biden’s announcement that he would not seek re-election. Despite this, Bitcoin managed to reach a six-week high of over $68,400 on Sunday evening. However, the bears quickly limited any additional gains, pushing the price down to a weekly low of $63,400 on Thursday. Nonetheless, the bulls prevailed, resulting in a substantial price increase on Friday, bringing Bitcoin back above $68,000. Currently, Bitcoin’s market cap is $1.340 trillion, with its dominance over altcoins remaining close to 53%.
Meanwhile, Solana (SOL) and Dogecoin (DOGE) have showcased impressive gains, with SOL reaching a two-month peak of over $185. Ethereum (ETH) has also managed to recover some ground after dropping to $3,000 earlier in the week, currently standing at around $3,300. Several other altcoins, including BNB, ADA, AVAX, TRX, SHIB, and LINK, have experienced modest daily gains. However, some digital assets like XMR and MKR have declined by 3-4%. Overall, the total crypto market cap has increased by approximately $30 billion, reaching around $2.550 trillion on CG.