SHIB, PEPE Post Big Daily Gains, BTC Price Recovers From Drop Below $63,000 (Market Watch)

Bitcoin price took a turn for the worse today, dropping below $62,800, but has managed to recoup all losses and is now near $64,000.

Some altcoins such as DOGE, TON, and ADA have posted impressive gains over the past day, but SHIB and PEPE are in a league of their own.

BTC recovers from dip below $63,000

The major cryptocurrency soared late last week after the US Fed cut key interest rates for the first time in more than four years, from below $58,000 to above $60,000, and since then he hasn’t looked back.

The bulls took it to $64,000 on Friday morning and even higher this week. As reported earlier, the asset jumped to $64,800 on a couple of occasions, with the latest breakthrough yesterday. However, the beers managed to defend this level and the subsequent rejection pushed BTC south to $62,750 (on Bitstamp) today.

However, the cryptocurrency bounced back and added around a grand, currently trading near $64,000 once again. These volatile moves came despite growing net inflows into spot Bitcoin ETFs.

That means its market cap is in familiar territory at $1.260 trillion, but its dominance over the highs has taken another minor hit, falling to 53.7% on CG.

Bitcoin/Price/Chart 09/26/2024. Source: TradingView SHIB, PEPE Shoot Up

When it comes to the daily gains of the largest-cap alternatives, Shiba Inu takes center stage with a massive 13% increase. The popular meme coin has risen to $0.000017, and you can learn more about its price increase here.

Another representative of the meme realms, PEPE, follows suit with a 7% jump to $0.000009. Its leader, DOGE, has gained more than 4% in the last day. Other featured performers include TON, ADA, DOT and NEAR.

The rest of the larger-cap highs are much quieter, with smaller losses from ETH, BNB, XRP and LINK.

The total crypto market capitalization has increased slightly once again and now stands at $2.350 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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