Bitcoin (BTC) Rebounds to $63,000, Altcoin Market Soars on July 1

Today, the cryptocurrency market experienced a significant surge, with Bitcoin (BTC) reaching $63K and Ethereum (ETH) hitting $3,500. Other cryptocurrencies like Solana (SOL), XRP, Dogecoin (DOGE), and Shiba Inu (SHIB) also saw substantial gains. The global crypto market cap increased by 4.21% to reach $2.34 trillion, with the total market volume surging by 44.92% to $49.98 billion.

Bitcoin’s price reached $63,316.81, marking a 4.17% increase over the past day, and it is currently trading above its 100-hour Simple Moving Average (SMA) at $62,450. The near-term resistance for BTC is at $63,900, with further resistance levels at $64,000 and $64,400.

Read Also: Ethereum Network Set for Utmost Growth with SSF Implementation

Ethereum’s price rose by 3.91% to $3,495.66, and the looming launch of ETH ETFs has generated significant investor interest.

Solana’s price rallied by 6.58% to trade at $147.43, while XRP jumped by 1.51% to reach $0.4782. Additionally, Dogecoin (DOGE) gained 4.70% to $0.1264, and Shiba Inu (SHIB) surged 4.55% to an undisclosed price.

In terms of the top gainers, Ethereum Name Service (ENS) price surged by 30.44% to $32.73, Mog Coin (MOG) by 18.61%, and dogwifhat (WIF) by 12.52%. On the other hand, Akash Network (AKT) price slipped by 0.68% to $3.69, Tron (TRX) dropped by 0.31% to $0.1248, and UNUS SED LEO (LEO) saw a marginal 0.06% decrease to $5.82.

Looking at the hourly time-frame charts, Bitcoin and Ethereum show a slight decrease, with a dip of 0.07% and 0.28%, respectively. Despite this, the overall market sentiment remains positive.

Read Also: Shiba Inu Burns Millions: What Does it Mean for SHIB’s Price?

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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.