Crypto Markets Add $70B Daily As Bitcoin (BTC) Price Rises To 8-Week High (Market Watch)

Bitcoin’s price gains continued in the past 24 hours, with the asset soaring to nearly $66,000 for the first time since August 1.

Altcoins are also in the green, with ETH nearing $2,700, while BNB has crossed $600 amid rumors that former Binance CEO CZ is leaving today.

Bitcoin Eyes $66,000

The leading cryptocurrency has been on a roll since last Wednesday, when the US Federal Reserve cut interest rates by 50 basis points. At the time, the asset was below $60,000, but quickly recovered that level and rose above $64,000 last Friday.

It recovered and calmed down over the weekend, but the current work week started with another rally towards $65,000. However, BTC stopped there twice – once on Monday and again on Wednesday – and pushed south to below $63,000 yesterday.

Still, the bulls kept their foot on the pedal and started another stage on the final day. This culminated in bitcoin jumping above $65,000 and approaching $66,000 to mark an 8-week high. This comes amid growing demand for domestic Bitcoin ETFs in the United States.

The price surge has pushed BTC’s market cap to $1.3 trillion at CG, while its hold on the highs has remained flat at 53.7%.

Bitcoin/Price/Chart 09/27/2024. Source: TradingView Meme Coins on the Run

As reported earlier, today it belongs to almost all representatives of the meme coin industry. PEPE is currently leading the way with an 18% increase that has pushed it well above $0.00001. FLOKI is close behind with an increase of $16.5, while Shiba Inu, although closer to $0.0002, is up 15.5%. Recall that SHIB had soared more than 20% at one point today.

Dogecoin has soared more than 8% daily and is now trading above $0.12 amid predictions that it could rise to $0.15. AVAX, UNI, LINK, BCH and SOL have also posted impressive gains.

Ethereum and Binance Coin have added 1.5% in value and are now trading above $2,660 and $605, respectively.

The total crypto market capitalization has increased by almost $70 billion in one day and is well above the $2.3 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).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!

Disclaimer: The information found on CryptoPotato is that of the quoted writers. It does not represent CryptoPotato’s views on whether to buy, sell or hold any investment. You are advised to do your own research before making any investment decisions. Use the information provided at your own risk. See disclaimer for details.

TradingView Cryptocurrency Charts.