It's been a week of fireworks in the crypto world, with Bitcoin and Dogecoin stealing the spotlight! The crypto market hasn't just had a good week; it's been on a rollercoaster ride to the moon, with a market cap now sitting at a jaw-dropping $2.45 trillion – that's a cool $250 billion more than last week!
Leading the charge is Bitcoin, the king of crypto, pulling off a dazzling 11% gain over the past seven days. For the first time since July, BTC has smashed through the $68,000 barrier, and it looks like it's eyeing even greater heights. The rally kicked off on Monday when Bitcoin rocketed past $64,000 and just kept climbing. Next up, it's aiming for $69,000, but that might be a tough cookie to crack with some technical hurdles in the way. If the bulls break through, a new all-time high could be on the horizon!
Bitcoin's dominance over the market is on the rise, hitting a massive 59% this week. Meanwhile, the altcoins are playing catch-up. Ethereum is up by just under 9%, Binance Coin by 5.4%, and Solana by 7.4%, while XRP remained pretty flat.
Here's where it gets wild! Dogecoin, the meme coin king, has exploded by a whopping 25% in the last week, breaking into the top 10 and outshining just about everyone else. Could this be the start of a meme coin season?
Bitcoin's epic run isn't just hype; it's backed by some solid fundamentals. Spot Bitcoin ETFs in the U.S. have seen inflows top $20 billion – a milestone that took gold ETFs five years to reach!
The market is buzzing with bullish vibes and a dash of greed, with traders eagerly anticipating what's being dubbed ‘Uptober.' The coming weeks are set to be a thrilling ride!
Market Cap stands at $2.45T, with a 24-hour volume of $105B, and BTC dominance at 55.5%. Bitcoin is at $68,552 (up 11.1%), Ethereum at $2,641 (up 8.6%), and Binance Coin at $599 (up 35.4%).
In other news, Bitcoin's dominance is gobbling up altcoins as whale activity surges. Meanwhile, Eastern Europe, particularly Ukraine and Russia, is seeing a boom in DeFi activity amidst ongoing conflicts.
Ethereum's co-founder, Vitalik Buterin, has shared some ambitious plans for the network's development phase, “The Surge,” focusing on scaling improvements.
The Ripple vs. SEC saga continues as the SEC appeals a critical ruling. And in Australia, Monochrome Asset Management is gearing up to launch the country's first spot Ethereum ETF.
Stay tuned for more electrifying updates as this crypto rollercoaster keeps us on the edge of our seats!
