Bitcoin’s price trajectory took another downturn yesterday, dropping to $65,000, but the cryptocurrency has since recovered a significant portion of its value.
Many altcoins have also experienced a rebound, except for ADA and ETH, both of which are seeing considerable losses today.
BTC Gains Back $2K
After a relatively uneventful weekend where the leading cryptocurrency fluctuated within a narrow range of $68,000 to $68,500, it made a strong comeback as the business week commenced. On Monday morning, it surged to $69,500, marking its highest price in nearly three months.
However, the situation began to shift in the subsequent hours, and BTC dipped to and below $67,000 on the same day. Tuesday saw less fluctuation, with the cryptocurrency hovering around that level.
The bearish sentiment remained strong, leading to another decline that pushed the price down to $65,000 (on Bitstamp) yesterday, making it bitcoin’s lowest point since October 15.
Nonetheless, the cryptocurrency bounced back and has recovered over $2,000 since then. It is currently trading just above $67,000, bringing its market capitalization to $1.326 trillion on CoinGecko. Its dominance over altcoins has also risen to 54.9%.
APE Declines
The leading performer over the weekend was undoubtedly ApeCoin’s native currency. The well-known meme coin surged by triple digits on Sunday following the launch of the protocol’s Apechain. It re-entered the top 100 altcoins, reaching a multi-month high of $1.7. However, it has since lost some traction, with APE falling by 10% in the last 24 hours and struggling at $1.14.
Conversely, GOAT and SAFE have entered the top 100 altcoins after impressive gains of 32% and 79% in the past day. POPCAT surged by 17%, followed by MEW (12%), JUP (8%), and PYTH (6.6%).
Among the larger-cap altcoins, Cardano, Ethereum, Shiba Inu, and Chainlink are currently in the red, while SOL, BNB, TRX, SUI, and UNI have moved into positive territory.
The overall cryptocurrency market capitalization has remained mostly unchanged since yesterday, sitting just above $2.4 trillion on CoinGecko.
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