Bitcoin's price recovery continues after the recent massacres and the cryptocurrency is currently up to around $65,000.
Altcoins are now even more in the green, with ETH and BNB up around 4% while SHIB stole the show.
Bitcoin aims for $65,000
It's safe to say that the week leading up to the fourth Bitcoin halving was quite painful. The asset fell from over $70,000 to $65,000 last Friday before plummeting to $61,000 a day later.
After regaining some traction on Monday, BTC experienced another free fall in the middle of the week and another on Friday amid escalating tensions between Iran and Israel. The latest massive drop took BTC below $60,000 just hours before the highly anticipated halving.
However, the cryptocurrency rose by over five grand within the next half day and was around $65,000 after the halving was completed.
There has been little fluctuation since then and Bitcoin is currently back up to around $65,000, having failed at $66,000 earlier today. Its market cap remains below $1.3 trillion, while its dominance over alts has taken a hit, falling to just under 51%.
BTCUSD. Source: TradingView
SHIB takes the main stage
Altcoins have performed significantly better than BTC in the last 24 hours, led by the second largest meme coin – Shiba Inu. SHIB is up 18% and is now trading above $0.000027.
Other meme coins with lower market caps also saw double-digit gains, such as BONK, FLOKI and PEPE.
Solana, Avalanche, Bitcoin Cash, Dogecoin, Chainlink, Polygon and Polkadot are also clearly in the green with increases of around 6-8%.
The total crypto market cap has increased by over $50 billion in a day and stands at over $2.5 trillion at CG.
Overview of the cryptocurrency market. Source: QuantifyCrypto
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Cryptocurrency charts from TradingView.
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