Crypto Blog
The cryptocurrency market went through a relatively volatile 24 hours, where Bitcoin took center stage and managed to increase above $62,000.
The uptick has also given leeway to smaller-cap altcoins to recover, with one viral meme coin exploding by as much as 25% on the day. Let’s dig in.Yesterday, Bitcoin’s price was trading around $61,000 for quite a while, and the bears even managed to push it to a local low of around $60,800. However, buyers stepped up and conquered $61K. Today, the positive sentiment seems to continue, as BTC is currently trading at around $62,250.The price action during the past couple of days is important, and the way BTC performs in this range will be indicative of its upcoming direction.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:That said, the volatility took its toll on the derivatives market.
The sentiment remains neutral, which is an improvement compared to yesterday when the market was in a state of fear.The overwhelming majority of altcoins are trading in the green, albeit most of them charting modest gains. Large caps, such as XRP, ADA, AVAX, SOL, BNB, ETH, and others, are up in the range between 0.5% and 1.5%.The meme coin category has been performing very well in the past 24 hours. Memes are up 9% on average, but it seems that cat-based coins are performing better.
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