Dogecoin (DOGE) Explodes 8% Daily, Bitcoin (BTC) Eyes $68,000 (Market Watch)

Bitcoin tried to lower the $68,000 level with a brief rise above that level, but has failed for now and is just below.

However, its dominance over the market continues to increase as most altcoins have posted minor losses over the past day.

BTC is targeting $68,000

After rebounding from last Thursday’s dump below $59,000, the major cryptocurrency went on the offensive and added four thousand over the weekend. The bulls took full control at the start of the current work week, leading to a $68,000 surge on Tuesday before a massive rejection pushed BTC south by more than three thousand.

However, this was short-lived and bitcoin began to regain traction almost immediately. That led to $68,000 on a couple of occasions since then, which is the highest price the asset has seen since late July.

This comes amid a massive resurgence in spot Bitcoin ETFs, which have seen more than a billion net inflows in recent days.

Despite pulling back slightly from this morning’s local peak, BTC is still near $68,000. Its market cap is over $1.34 trillion, while its dominance of the alts is north of 55% in CG.

Bitcoin/Price/Chart 18.10.2024. Source: TradingView DOGE on the Run

After months of silence, Elon Musk resumed his public support for Dogecoin yesterday, leading to immediate gains for the biggest meme coin. In fact, DOGE is among the few alternatives with notable gains today, having risen more than 8%. Today, the asset hit a new multi-month high.

POPCAT is the other top 100 high with a massive increase of 11%. INJ (6.5%), MEW (6%) and FTN (6%) follow suit.

In contrast, Binance Coin, Tron, Solana, Toncoin, Cardano and Avalanche have recorded minor losses. NEAR, SUI and KAS have decreased up to 4%.

The total crypto market capitalization has increased slightly daily and reaches $2.436 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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