Likely driven by Trump’s latest promising words about a potential peace deal between the US and Iran to be announced in the next few days, BTC jumped from $62,000 to over $64,000 in minutes earlier today before it was stopped.
Most larger-cap alts have remained relatively sluggish on a daily scale, aside from HYPE, which has reclaimed the $60 support after a 3% increase.
Bitcoin Eyes $64K
The previous week was one of the most violent in bitcoin’s recent history. The asset started it at around $73,000, but the bears quickly took control and drove it below $70,000. The key support levels kept falling one after the other, and BTC found itself dropping below $68,000, $65,000, and even $62,000 as the week progressed.
The focus turned to the $60,000 level, which managed to hold the February crash. The bulls managed to defend it at first on Thursday and on Friday morning, but the pressure was too strong on Friday afternoon, and that line finally gave in.
Bitcoin dipped to $59,100 for the first time in almost two years. Nevertheless, it quickly rebounded and reclaimed the $60,000 level by the end of the day, and climbed to $61,000 on Saturday and $62,000 on Sunday. More volatility occurred in the past 12 hours or so after the latest developments on the war front, and BTC surged to $64,200 before it was stopped and driven south by a grand.
Its market cap is up to $1.265 trillion, while its dominance over the alts has increased to 56.3% on CG.
BTCUSD June 8. Source: TradingView
BEAT Rockets
The altcoin in question that has pumped by 80% in the past 24 hours alone is Audiera (BEAT). The asset is by far the top performer today, surging to a price of $4.30 and becoming the 62nd-largest alt by market cap. SIREN has surged by 32%, followed by NEAR’s 13% jump. DeXe completes the double-digit price gain club, with an 11% increase.
The larger-cap alts are a lot less volatile today. ETH is up to $1,660 after a 1.5% increase, BNB is still close to $600, while SOL is above $66. HYPE has gained 3% and sits well above $60, while ZEC continues on its recovery path with a 6% jump to $425.
The total crypto market cap has added another $20 billion daily and is up to $2.260 trillion on CG.
Cryptocurrency Market Overview June 8. Source: QuantifyCrypto
