BTC Price Taps $60K for the First Time in 9 Days, DOGE and SHIB Jump by 4% (Weekend Watch)

5 months ago 3

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Bitcoin’s weekend revival continues as the asset skyrocketed to over $60,000 for the first time since last Friday’s massacre after the unsuccessful assassination attempt against Donald Trump.

Several altcoins have performed even better in the past day, including DOGE, NEAR, SOL, and others.

BTC Jumps Above $60K

Perhaps driven by uncertainty from the Mt. Gox BTC distribution and the actions of the German government, the primary cryptocurrency dumped hard 9 days ago from over $58,000 to a multi-month low of under $54,000.

The bulls initiated a recovery attempt that was first stopped but resumed at the start of the last business week. Moreover, bitcoin topped $59,000 on a few occasions, the last of which came after the favorable US CPI data from Thursday.

However, it failed to keep the momentum going and retraced to $56,500 on Friday evening, but reclaimed some ground on Saturday and stood at around $58,000. The unfortunate events surrounding US presidential candidate Donald Trump led to more volatility in the market, but the failure of the assassination attempt resulted in a rally for BTC and most of the market.

More specifically, bitcoin jumped to over $60,000 for the first time since the previous Friday and now sits there as well. Its market cap has neared the $1.2 trillion mark, while its dominance over the alts has increased to over 51%.

Bitcoin/Price/Chart 14.07.2024. Source: TradingView

Alts See Green

Aside from all Trump-related tokens skyrocketing by double-digits, most other larger-cap alts have turned green now. Ethereum has tapped $3,200 after a 2% increase, while BNB has neared $540 after a minor daily jump.

More impressive gains come from the likes of Solana (4%), Dogecoin (4%), and Shiba Inu (3.6%). The mid-cap alts have produced massive gainers as well, with ICP leading the pack with a 9.5% surge. APT, NEAR, and MKR follow suit.

The total crypto market cap is up by more than $110 billion since Friday and $50 billion in a day to $2.330 trillion on CG.