Bitcoin (BTC) Bounces Above $67,000, Stacks (STX) Soars 10% Daily (Market Watch)

After a substantial drop in price that took it to a weekly low below $64,000, bitcoin has clawed back most of the losses and is now above $67,000.

Total crypto market cap has also recently regained lost ground as many altcoins have turned green on a daily basis.

BTC climbs above $67,000

After last Friday’s dip towards $63,000, the major cryptocurrency started a major recovery over the weekend that took it up to $66,000. More volatility came when President Joe Biden announced his withdrawal from the 2024 race.

BTC initially dropped $2,000, but started to regain traction on Sunday and especially on Monday, when it hit a 6-week high of over $68,400.

However, he was unable to sustain the momentum in the following days and began to lose some traction. This culminated in a price drop to a 6-day low of $63,500 yesterday amid a market-wide correction.

However, the bulls intercepted the move and did not allow further drops. On the contrary, the asset started to increase in value and took advantage of $67,000 earlier today. Its market cap has soared above $1.32 trillion and its dominance of the highs has increased to 52.7% in CG.

Bitcoin/Price/Chart 07/26/2024. Source: TradingView These alternatives are well in the green

Most altcoins followed BTC on the way south, including ETH, which has been one of the best performers following the launch of local Ethereum ETFs in the United States. However, ETH, along with the rest of the market, is up today. The second largest digital asset has added 3% in value and is trading above $3,250.

BNB, SOL, DOGE, TON, AVAX, SHIB, DOT and LINK have marked similar gains, while XRP, NEAR and LEO have negligible losses. The biggest daily gainers include AAVE, ORDI, STX and BRETT as they all rose by double digits.

The total crypto market capitalization has erased almost all of yesterday’s losses and is back above $2.5 trillion.

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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