Pepe Up 9% Daily, Bitcoin Price Eyes $62,000 After Recent Crash (Market Watch)

Bitcoin’s price recovery from the recent market-wide decline continued in the past 24 hours, as the asset jumped to just under $62,500, but failed there and bounced back several hundred dollars.

Altcoins are also slightly in the green on a daily basis, with ETH near $3,400 and BNB closing at $580.

BTC Eyes $62,000

It was less than a week ago, last Thursday, when the price of bitcoin topped $66,000. However, it started to lose ground on Friday, falling below $64,000 and bouncing back to just above that level over the weekend. Saturday and Sunday were quiet, with little or no action.

The picture worsened on Monday as bears took control of the market amid disturbing news from Mt. Gox and pushed BTC south. Within hours, the cryptocurrency fell to $58,450 for the first time in nearly two months.

As warning signs began to appear that the asset could drop to $50,000 and even $45,000, BTC reversed its trajectory and jumped to $61,000 yesterday morning. It continued to rise during the day and reached $62,400 (on Bitstamp) later.

However, bitcoin failed there and has recovered almost a thousand. Its market capitalization is under $1.22 trillion, and its hold on the highs has been successful at 50.7%.

Bitcoin/Price/Chart 26.06.2024. Source: TradingView PEPE on the Rise

Altcoins suffered as badly as BTC at the start of the week and saw multi-month lows. The situation is a bit better now, with smaller gains for ETH, BNB, SOL, TRX and DOT.

DOE, SHIB, AVAX and LINK are up about 3%, while XRP, TON and ADA have negligible losses.

PEPE and STX have emerged as the best performers of the 36 largest crypto assets, with increases of 9%. NOT is up even more, having risen 14% in the last day.

The total crypto market cap has increased by 1.1% in the last 24 hours to $2.4 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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