DOGE, SHIB DROP SHARPLY; NEAR SURGES 26%

OL also witnesses a substantial uptick, reaching just above $140. The last 24 hours have seen Bitcoin exhibiting minimal fluctuations following Tuesday’s significant volatility spike.

In contrast, the altcoin sector displays a more vibrant activity with BNB, SOL, and MATIC recording increases between 5-7%, whereas DOGE and SHIB have taken a sharp downturn.

Bitcoin Holds Steady Around $66K

Bitcoin’s performance has been the center of attention early this week after last week’s $10,000 surge, pushing it well past the $60,000 mark. The crypto community eagerly awaited to see if it would surpass its 2021 all-time high of $69,044 (as listed on CoinGecko).

Monday’s impressive rally saw Bitcoin’s price jump from below $62,000 to approximately $68,000, stirring speculation about a new all-time high. Indeed, on Tuesday, Bitcoin momentarily reached a new peak at $69,300.

However, a swift bearish movement followed, causing a near $10,000 drop to just below $59,500 in a few hours.

Despite this, analysts reassured the market, leading to a swift recovery of Bitcoin’s price to about $67,000, where it has since stabilized.

Currently, Bitcoin’s market capitalization maintains over $1.3 trillion, with its market dominance slightly declining to below 50%.

Meme Coins Retreat, NEAR Makes Significant Gains

Recently, meme coins had been enjoying a bullish trend, particularly DOGE and SHIB. However, both have faced significant losses, with DOGE down 10% and SHIB decreasing by 15% over the last day.

ETH also saw a decrease to below $3,800 after a slight pullback. On the other hand, SOL, BNB, and MATIC have seen appreciable growth of around 5-7%.

NEAR stands out among the larger-cap altcoins with a notable 26% increase. ATOM and HBAR have also performed well, each rising by 10%.

The overall cryptocurrency market cap has experienced a slight increase in the past day, now nearing $2.650 trillion, according to CoinGecko data.

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