Bitcoin Cools Off After Rollercoaster Ride, SEC Decision Looms over Ethereum ETFs

Bitcoin remained relatively stable over the weekend, hovering just above $64,000 after last week's volatility. Meanwhile, Dogecoin emerged as the top performer among the top 15 crypto assets, surging by 7% in a day. Ethereum, Solana, and Binance Coin saw minor losses, while altcoins like XRP, ADA, SHIB, and DOT gained modestly. The total crypto market cap declined slightly, sitting at just over $2.56 trillion.

Bitcoin Cools Down After Recent Volatility

Bitcoin's price action over the weekend was relatively muted, with the asset settling just above $64,000 after last week's volatility.

Ethereum ETF Applications: SEC Rejections' Potential Impact

The cryptocurrency market is keeping a close eye on the Securities and Exchange Commission (SEC) as it deliberates on several applications for spot Ethereum exchange-traded funds (ETFs). Should the SEC deny all such applications, the impact on ETH's price could be significant.

Artificial Intelligence in Crypto: Portfolio Optimization and Creative Generation

Artificial intelligence (AI) is making waves in the cryptocurrency space. AI-powered tools can now assist investors in constructing optimal portfolios and generate unique artwork, offering new possibilities for market participants.

Meme Coin Mania and Ethereum Regulatory Concerns

The cryptocurrency market witnessed a surge in interest in meme coins, particularly Dogecoin, which experienced a 7% gain overnight. However, the sector also grapples with regulatory uncertainty surrounding Ethereum, which has contributed to recent price declines.

Altcoins Subdued, Dogecoin Shines

Most altcoins have stabilized over the past 24 hours, with minimal losses or gains. Dogecoin emerged as a standout performer, rising 7% overnight, pushing its price above $0.17. Bitcoin Cash, ICP, and OKB also recorded notable gains, ranging up to 8% in the case of OKB.

Bitcoin's Bumpy Week

The previous week started on a negative note for the leading cryptocurrency, which shed most of its weekend gains. Bitcoin traded at $69,000 on Monday but quickly lost $5,000.

Tuesday brought further declines, with BTC plunging to a two-week low below $61,000. This move was primarily driven by profit-taking from some investors and uncertainty ahead of the Federal Open Market Committee (FOMC) meeting later that day.

After the U.S. Federal Reserve indicated it would not pivot from its current monetary policy stance, Bitcoin staged a short-lived rally, gaining 4% and briefly surpassing $68,000 on Wednesday morning.

However, the upward momentum proved short-lived, and BTC has been shedding value over the past few days. As of press time, the cryptocurrency is trading around $64,000, having failed to breach the $66,000 level yesterday. Its market capitalization remains steady at $1.260 trillion on CoinGecko, with its dominance hovering just above 49%.

Altcoins Steady, Dogecoin Outperforms

Most altcoins have also stabilized on a daily basis. Ethereum, Solana, and Binance Coin have posted marginal losses, while XRP, ADA, SHIB, and DOT have gained 1-2%.

In contrast, Dogecoin has emerged as the top performer among the top 15 cryptocurrencies, surging 7% overnight. This brings the original meme coin back above $0.17.

Bitcoin Cash, ICP, and OKB have also recorded notable gains, with OKB rising as much as 8%.

However, the total cryptocurrency market capitalization has declined slightly on a daily basis, currently standing at just over $2.560 trillion on CoinGecko.