ApeCoin (APE) Down 10% After Recent Rally, Bitcoin (BTC) Recovers $2,000 Daily (Market Watch)

Bitcoin price movements took another turn for the worse yesterday with a drop to $65,000, but the asset has managed to recoup most of the losses so far.

Most altcoins have also bounced, apart from ADA and ETH, which are also in the red today.

BTC recovers $2000

After a relatively quiet weekend in which the major cryptocurrency sat in a tight range between $68,000 and $68,500, the asset went on the offensive at the start of the work week. It shot up to $69,500 on Monday morning, becoming its highest price in nearly three months.

However, the picture began to change in the following hours and BTC found itself falling to and below $67,000 on the same day. Tuesday was less volatile as the cryptocurrency held around this level.

Bears remain persistent, however, and prompted another leg down that saw the price drop to $65,000 (on Bitstamp) yesterday. This became bitcoin’s lowest position since October 15.

However, the asset bounced back and has recovered more than two thousand since then. It is currently trading just north of $67,000 and its market cap is up to $1.326 trillion on CG. His dominance over the highs has also increased to 54.9%.

Bitcoin/Price/Chart 24.10.2024. Source: TradingView APE Going Downhill

The biggest gainer over the weekend was undoubtedly the native asset ApeCoin. The popular meme coin exploded by triple digits on Sunday following the launch of the Apechain protocol. It re-entered the top 100 highs and hit a multi-month high of $1.7. However, it has lost some of its momentum since then. APE is down 10% in the last 24 hours alone and is now struggling at $1.14.

Instead, GOAT and SAFE are now among the top 100 alternatives after gains of 32% and 79% in the last day. POPCAT has shot up 17%, followed by MEW (12%), JUP (8%) and PYTH (6.6%).

Cardano, Ethereum, Shiba Inu, and Chainlink are in the red of the largest-cap highs, while SOL, BNB, TRX, SUI, and UNI have turned green.

The total crypto market capitalization has remained essentially where it was yesterday at just over $2.4 trillion in CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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