Weekend Status Quo: Bitcoin Stable Amid $60K, ETH Maintains $4K (Market Watch)
Bitcoin dipped below $60,000 once again in the past 24 hours but has recovered and currently stands above it. Most altcoins are also untypically calm this weekend, with ETH sitting north of $4,000. Shiba Inu, though, charted a new all-time high hours ago.
Bitcoin Remains Above $60K
All crypto eyes in the past few weeks were on the launch of the first-ever Bitcoin Futures ETF in the United States. After years of waiting, the Securities and Exchange Commission finally allowed such a product to go live, which happened on Tuesday with record trading volumes.
The anticipation for such an event caused a massive price surge for the underlying asset. BTC went from $57,000 to above $60,000 in days and kept climbing higher. This culminated on Wednesday when it breached the previous all-time high of $65,000 and set a new one at $67,000.
Since then, though, the tides have turned to a large extent. Instead of heading further north, bitcoin has retraced and even dropped below $60,000 twice in the past 48 hours. The last one saw BTC dipping to $59,600 (on Bitstamp).
As of now, the cryptocurrency has recovered some ground and stands well above $60,000. Its market capitalization is still beneath $1.150 trillion, and the dominance over the alts is at 45% after reaching 47% just days ago.
ETH Above $4K: SHIB New ATH
Ethereum also came close to a new all-time high during the week but failed and nosedived. As a result, it dipped below $4,000. However, a 2% increase on a 24-hour scale now has driven the second-largest cryptocurrency to $4,100.
Aside from Solana, which has declined by nearly 4% since yesterday, most other larger-cap alts are untypically calm. Binance Coin and Chainlink have seen minor gains, while Cardano, Ripple, Polkadot, Dogecoin, Terra, and Avalanche are slightly in the red.
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The situation with Shiba Inu is totally different. SHIB skyrocketed with more than 40% in a day and charted a new all-time high earlier today, as CryptoPotato reported.
Next in line in terms of gains is Curve DAO Token – 17%. Harmony (12%), Mina (11%), Nexo (10%), Zcash (10%), and Dash (10%) are next.
The cumulative market cap of all cryptocurrency assets has also remained at a familiar spot at just under $2.550 trillion.
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