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Is Bitcoin Catching Its Breath?
After a wild ride last week, Bitcoin has taken a breather, settling around $64,000. The king of crypto had a rough start to the week, shedding $5,000 on Monday. Tuesday brought even more pain as it dipped to a two-week low below $61,000.
But Wednesday saw a brief resurgence, thanks to the Fed's announcement that it wouldn't change its monetary strategy. Bitcoin surged 4% and topped $68,000. Alas, the rally was short-lived, and Bitcoin has been losing ground since.
Altcoins Make a Comeback
While Bitcoin has been taking a nap, altcoins have been stealing the show. Ethereum, Solana, and Binance Coin have had modest losses, but XRP, ADA, SHIB, and DOT have all gained around 1-2%.
Dogecoin Leads the Pack
The biggest gainer among the top 15 crypto assets is none other than Dogecoin, which has soared 7% overnight. That means the OG meme coin is now worth over $0.17.
Market Cap Stays Put
Despite the altcoin action, the total crypto market cap has actually declined slightly, sitting just above $2.560 trillion.
What's Next for Bitcoin?
Will Bitcoin break through the $66,000 resistance level and continue its upward trajectory? Or is it due for a deeper correction?
Altcoins to Watch
Which altcoins will continue to outperform Bitcoin? Keep an eye on Dogecoin, Bitcoin Cash, ICP, and OKB.
Market Sentiment
The market is still a bit uncertain, with Bitcoin hovering around $64,000. However, the altcoin rally suggests that there is still plenty of interest in the crypto space.
Disclaimer: This article is not intended as financial advice.
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