King cryptocurrency At the time of writing, its unit exceeded $66,000 again. altcoins The latest rise is quite significant for the company and the nightmare that has been going on for two quarters may now be over. After BTC’s previous attempt at $65,000, it quickly retreated to $53,000, and we saw losses exceeding 20 percent in altcoins. Today, the opposite is happening.
Bitcoin (BTC) Rising
For the first time in 58 days since July 31, BTC tested $ 66,000. While the article was being prepared, it continued to linger at the $66,000 level. BTC It has been starting reaction rises for months at $57,255 and $53,000. Even though it exceeds $ 66,000 this time, there are still obstacles of $ 68,300 and $ 71,550.
The last 3 months of the year are considered the rising period in the cryptocurrency markets, and investors are now expecting further increases in prices as we are about to enter the last quarter. The positive sentiment is getting stronger as the Fed started to reduce interest rates this month and recession concerns are balanced.
If BTC can sustain above $71,550, it could surpass the ATH level at $73,777 and target a new, true cycle top. Of course, in this environment, altcoins are also expected to multiply their earnings.
Stellar Altcoins of the Day
Shiba Coin At the time of writing, it continues at $0.0000214, with a 25 percent increase. DOGE exceeded $0.12 and the sharp rise experienced by these two altcoins tells us that investor appetite in altcoins has reached significant levels again. The majority of those that have experienced double-digit increases among the top 100 cryptocurrencies in the last 24 hours are meme coins.
- SHIB 25%
- FLOKI 18%
- PEPE 18%
- W 16%
- BONK 14%
- ORDI 11%
- NOTE 11%
While the total market value of cryptocurrencies increased from $2.22 trillion to $2.31 trillion this week, BTC market dominance decreased to 56.3%. According to CMC data, the fear and greed index is still at 54, just above the neutral zone.
If BTC can enter the weekend strong above $66,000, we could see more exciting rises in altcoins continue over the next 48 hours.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
