Bitcoin Price Climbs to $63,000, But This Viral Meme Coin Takes Center Stage (Weekend Watch)

After several days of depressing price action, the moose finally seem to be back in town. The cryptocurrency market added nearly $70 billion to its total market capitalization over the past 24 hours.

This happened on the back of Bitcoin posting a remarkable recovery in the last 24 hours, bouncing up to $63,000, so let’s take a look.

Bitcoin price makes a recovery

Just a couple of days ago, Bitcoin fell below $60,000 and even briefly dipped below $59,000.

Fortunately, the bulls recovered very quickly and managed to stage an impressive rally, reaching around $63,400 today. Since then, the price has pulled back a bit to where it is currently trading, but BTC posted a 3.4% increase over the past 24 hours.

Source: TradingView

It is worth noting that Bitcoin has performed comparatively better than the other top 10 cryptocurrencies by market cap.

The total crypto market saw about $120 million worth of leveraged positions liquidated, most of which were short. Broader sentiment has also improved a lot compared to yesterday, and is currently neutral, up 17 points on the day.

Altcoins in a sea of ​​green

As you can see from the heatmap below, altcoins are having a field day and are all trading in the green.

Some of the biggest ones, like ETH, BNB, SOL, XRP, DOGE, TRX, TONCOIN and ADA, have marginal gains between 0.5% and 3%. In particular, the price of Bitcoin has managed to outperform all of them, as mentioned above.

Source: Quantify Crypto

That said, one of today’s top performers is NEIRO on ETH, a viral meme coin that boasts one of the most vibrant online communities. It has managed to explode more than 40% in the last 24 hours.

Overall, WhiteBIT Coin (WBT) is the second best performer in the top 100 (after NEIRO) and is up almost 30%, followed by Ethenea (ENA) which is up 25%.

At the other end of the spectrum, Uniswap (ONU) is down 2% on the day. It’s worth noting, however, that UNI is up 17% over the past week.

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