BTC Price Faces Massive Volatility Amid Trump Speech, XRP Steady At $0.6 (Weekend Watch)

All eyes in the crypto community yesterday were on the Bitcoin Conference in Nashville, as Donald Trump was scheduled to appear and talk about BTC, which ultimately led to substantial price volatility for the asset.

On a daily basis, most cryptocurrencies are slightly in the red, with TON and DOGE leading the pack of the largest-cap ones.

BTC sees a rollercoaster ride

Last weekend was also pretty hectic in terms of bitcoin price action, as the asset fell by $2,000 within minutes after President Joe Biden dropped out of the 2024 race, but then increased by more than three thousand. Ultimately, BTC broke above $68,400 for the first time in over 6 weeks on Monday.

However, he could not maintain his career and gradually began to lose value. A more substantial price drop came on Thursday when it dropped from $67,200 to $63,400. However, the bulls managed to intercept the move and started a rally on Friday and Saturday that took bitcoin to $68,000.

As anticipation for Trump’s speech grew, BTC surged to a 7-week high of over $69,300. The roller coaster came when he got up on stage and made several big promises. Within a few hours, bitcoin dropped to $66,500, recovered to $69,000 and fell back to its current position of $67,500.

As such, its market cap has dropped to $1.330 trillion, but its dominance over the highs has increased to 52.9% at CG.

Bitcoin/Price/Chart 07/28/2024. Source: TradingView Alts Turn Red

Most altcoins posted impressive gains in the last 24 hours and, as expected, lost some traction today. ETH and BNB are each down 1.5% to $3,225 and $578, respectively. SOL, ADA, SHIB, DOT and LINK have declined by similar percentages.

Dogecoin, Toncoin and Avalanche are down 3-4%, while NEAR, WIF, APT and RNDR are down up to 6%.

XRP, TRX and BCH are among the few alternatives to the greenback, as in the case of Bitcoin Cash, the daily increase is 3.5%.

The total crypto market cap has lost about $30 billion overnight and is now below $2.520 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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