Bitcoin’s price climbed slightly on Saturday evening after US President Donald Trump halted the planned attacks on Iran, and jumped to $64,500 before it retreated slightly.
Shiba Inu has stolen the show from the larger-cap alts, rocketing by over 35%. Most larger-cap alts are also in the green but in a more modest manner.
BTC Defends $64K
Last Monday began with a somewhat expected leg down that drove bitcoin south from $65,000 to $63,750. However, the asset reacted well, defended that support level, and jumped by two grand by the end of the day. Tuesday was even better in terms of gains, as the cryptocurrency jumped to roughly $67,000 on some exchanges to mark a monthly high.
After gaining over $3,000 in just over 24 hours, BTC was primed for a correction given the overall market landscape. It started to lose value gradually and dropped below $65,000 on Thursday. It initiated another breakout attempt on Friday, but it was stopped at $65,750. The subsequent rejection drove it south by $2,000.
The bulls finally intervened and didn’t allow another leg down. Instead, BTC showed some resilience around that level and remained at around $64,000 on Saturday and climbed to $64,500 later that day after Trump ordered the US military to stand down while waiting for the resumed talks between Iran and Oman.
For now, BTC stands above $64,000, with its market cap returning to $1.290 trillion on CG. Its dominance over the alts has risen to almost 57%.
SHIB Pumps Hard
In a rare reminder of the meme coin mania from a few years ago, Shiba Inu’s largest native token has rocketed by over 35% today to mark a two-month peak. PEPE is the other big gainer from the meme coin niche, surging by 9.6% daily and 26% in the past month. Dogecoin has risen by 5.8% to $0.073. VVV sits among the meme coin gainers, surging by 12% to $14.5. AVAX has pumped by 9% as well.
The rest of the larger-cap alts have posted significantly more modest increases. ETH is close to $1,900 after a 1.5% jump, XRP is back at $1.10, while HYPE is up by 2.5%, but it still trades below $60. ZEC and CC are also in the green.
The total crypto market cap has increased slightly since yesterday, but it’s still below $2.3 trillion on CG.
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