Bitcoin (BTC) price returns to $67,000 as most altcoins turn red (market watch)

Despite positive inflows into the largest U.S. spot Bitcoin ETFs, the price of the underlying asset rallied strongly yesterday, but is now nearing $67,000.

Most altcoins have posted notable losses in the last day, with AVAX, DOT, INJ and ADA leading the way.

Bitcoin’s journey around $67,000

The major cryptocurrency had a volatile end to the previous business week as it failed to hold above $65,000 and dropped to $63,000. However, it rebounded on Friday evening and Saturday morning and jumped to $67,500.

After a small pullback there, it calmed down once again on Sunday morning, but the withdrawal of the current US president from the 2024 election race shook the markets again later in the day.

Joe Biden’s decision to halt his campaign pushed BTC south about two thousand before the asset shot to a monthly high of just over $68,000 on Monday morning.

More volatility followed the next day, causing bitcoin to fall to $66,300 earlier today despite massive inflows into BTC ETFs at the time. As of now, however, the asset is back near $67,000.

Its market cap is $1.320 trillion, while its hold on the highs stands at 51.7% in CG.

Bitcoin/Price/Chart 07/23/2024. Source: TradingView Alts Turn Red

Most of the crypto community is focused on Ethereum today, given the planned launch of spot ETH ETFs in the US. However, its price has remained relatively still on a daily basis at just over $3,500.

Ripple is the other larger-cap alternative with a smaller rise over the same period, with XRP now trading above $0.6.

The rest of the market is in a more dire state. BNB, TON, ADA, SHIB, DOT, LINK, BCH, NEAR and UNI are down around 2%, while AVAX, LTX, ICP and INJ have seen losses of up to 6%.

The total crypto market capitalization has retreated slightly since yesterday, but is still above $2.550 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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