Crypto Market Watch- Double-Digit Gains for PEPE, WIF, FLOKI as BTC Retracts Due to Mt. Gox News
Crypto Market Watch- Bitcoin’s price surged to just over $65,000 for the first time in weeks. However, news related to Mt. Gox caused the asset to drop by more than $2,000 within minutes.
Meanwhile, several altcoins, particularly those in the meme coin sector, have seen double-digit gains in the past day.
Bitcoin Surges Amidst Volatility and Mt. Gox News
The primary cryptocurrency ended the previous volatile week on a higher note, recovering recent losses and stabilizing around $58,000. The weekend was expected to be less turbulent, but the failed assassination attempt against pro-crypto U.S. presidential candidate Donald Trump caused significant market activity.
Bitcoin surged by a few thousand dollars, reaching $60,000 for the first time in over a week. Monday’s trading saw an even more impressive rise, pushing BTC to $63,000, marking a two-week high. In the early hours of Tuesday, another surge drove Bitcoin to $65,000.
This meant that the asset had recovered more than $10,000 since the July 5 crash. However, news surfaced about Mt. Gox moving billions in BTC, and the markets reacted with a fearful decline.
Market Movements: Major Alts See Red as Meme Coins Soar
Most of the larger-cap altcoins have turned red today after a few consecutive days of gains. Ethereum (ETH), Solana (SOL), Binance Coin (BNB), TON, Cardano (ADA), TRON (TRX), Avalanche (AVAX), and Polkadot (DOT) have all experienced losses. Notably, Polkadot’s native token has dropped by almost 5%.
In contrast, PEPE has emerged as today’s biggest gainer. The meme coin has soared by 16% in the past 24 hours, now sitting above $0.000013. OM has charted a similar increase, while WIF and FLOKI have jumped by 14% and 13%, respectively.
The total crypto market cap remains above $2.4 trillion but has decreased by $50 billion since the peak earlier today.
For the latest in crypto updates, keep tabs on Crypto Data Space.
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