Meme Coins Dominate as Bitcoin Defends $64K Support
The cryptocurrency market has seen significant movements in the past few days, with Bitcoin (BTC) defending its $64K support level. Despite a decline to $63,750 last Monday, BTC rebounded and reached a monthly high of around $67,000 on Tuesday. However, it began to lose value gradually and dropped below $65,000 on Thursday. The bulls intervened, preventing another leg down, and instead showed resilience around that level.
On Saturday, after US President Donald Trump ordered the US military to stand down while waiting for resumed talks between Iran and Oman, BTC's price climbed slightly to $64,500 before retreating slightly. It currently stands above $64,000 with a market cap of $1.290 trillion on CG.
The larger-cap altcoins have also seen gains, but in a more modest manner than some meme coins. Shiba Inu (SHIB) has rocketed by over 35% today to mark a two-month peak, while PEPE surged by 9.6% daily and 26% in the past month. Dogecoin has risen by 5.8% to $0.073.