Bitcoin Hits Weekly High Over $66K; NEAR Rises 8% in Daily Market Update

NEAR

NEAR Protocol’s native token has emerged as one of the top performers in the last 24 hours. Bitcoin’s price is steadily rising after the recent halving, surging above $66,000 for the first time in a week.

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Other altcoins have also seen modest gains, with Ethereum reclaiming $3,200 and BNB surpassing $600.



Bitcoin’s Rollercoaster Week

Bitcoin started the business week with a rebound, reaching close to $67,000 on Monday, showcasing a recovery from the previous weekend’s losses. However, geopolitical tensions, notably between Iran and Israel, among other external factors, exerted downward pressure on the asset once more.

Bitcoin dipped below $60,000 multiple times during the week, including a drop on Friday just before the highly anticipated fourth halving event.

Despite the setbacks, Bitcoin quickly bounced back, soaring to around $65,000 shortly afterward. This surge persisted as the block rewards for miners were halved. Since then, BTC has been steadily climbing, reaching a weekly peak of over $66,000 earlier today.

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Its market cap has reached $1.3 trillion on CoinGecko, with its dominance over alternative cryptocurrencies rising to 51%.

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Bitcoin/Price/Chart. Source: TradingView

Altcoins Follow Bitcoin’s Lead with Mixed Gains

Most altcoins have mirrored Bitcoin’s upward trajectory, albeit with minor gains. Ethereum has seen a 1% increase in the past 24 hours, surpassing $3,200, while Binance Coin has surged over 4%, trading above $600.

Mixed Performance Among Altcoins: Several altcoins, including SOL, XRP, ADA, AVAX, DOT, and LINK, have experienced gains, while others like TON, DOGE, SHIB, TRX, and BCH are slightly down.

NEAR Protocol Leads in Value Addition: Among larger-cap altcoins, NEAR Protocol’s native token has seen the most significant increase in value over the past 24 hours. NEAR has surged by approximately 8%, approaching $7.

Total Crypto Market Cap on the Rise: The total cryptocurrency market cap has risen by an additional $40 billion overnight, exceeding $2.550 trillion on CoinGecko.

Cryptocurrency Market Overview. Source: QuantifyCrypto

In Summary

Bitcoin had a volatile week, initially rebounding to nearly $67,000 but facing downward pressure due to geopolitical tensions, dipping below $60,000 multiple times. However, it quickly recovered, reaching $65,000 as miners’ rewards halved. Bitcoin hit a weekly peak of over $66,000, with its market cap reaching $1.3 trillion and dominance over altcoins rising to 51%.

Most altcoins saw minor gains, with Ethereum surpassing $3,200 and Binance Coin trading above $600. Some altcoins, like SOL, XRP, ADA, AVAX, DOT, and LINK, experienced gains, while others, including TON, DOGE, SHIB, TRX, and BCH, saw slight declines. NEAR Protocol’s token surged approximately 8%, nearing $7, leading among larger-cap altcoins. The total cryptocurrency market cap increased by $40 billion, exceeding $2.550 trillion on CoinGecko.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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