Bitcoin jumped to $64,500 on Saturday evening after US President Donald Trump halted the planned attacks on Iran, then retreated slightly and held above $64,000. Shiba Inu led the day’s gainers with a rise of over 35%, while most larger-cap altcoins posted more modest increases.
Bitcoin’s price climbed slightly on Saturday evening and jumped to $64,500 after US President Donald Trump halted the planned attacks on Iran, before it retreated slightly. Trump ordered the US military to stand down while waiting for the resumed talks between Iran and Oman.
Bitcoin defends the $64,000 floor
Last Monday began with a somewhat expected leg down that drove bitcoin from $65,000 to $63,750. The asset reacted well and defended that support level, then Tuesday brought better gains as the cryptocurrency jumped to roughly $67,000 on some exchanges to mark a monthly high.
That run set up a pullback. After gaining over $3,000 in just over 24 hours, BTC was primed for a correction given the overall market landscape, and it dropped below $65,000 on Thursday. Friday’s breakout attempt stopped at $65,750, and the subsequent rejection drove the price south by $2,000.
The bulls then intervened and didn’t allow another leg down. BTC remained at around $64,000 on Saturday and now stands above that mark, with its market cap returning to $1.290 trillion on CG and its dominance over the alts rising to almost 57%.
Shiba Inu rises over 35%
While bitcoin consolidated, the meme coin niche produced the sharpest moves. Shiba Inu’s largest native token rocketed by over 35% today to mark a two-month peak, which CryptoPotato called a rare reminder of the meme coin mania from a few years ago.
PEPE followed as the other big gainer from the niche, surging by 9.6% daily and 26% in the past month. Dogecoin rose by 5.8% to $0.073, VVV surged by 12% to $14.5, and AVAX pumped by 9%.
Larger-cap alts lag the meme rally
The rest of the larger-cap alts posted significantly more modest increases. ETH sits close to $1,900 after a 1.5% jump, XRP is back at $1.10, and HYPE is up by 2.5% but still trades below $60.
Marketwide, the total crypto market cap has increased slightly since yesterday, but it remains below $2.3 trillion on CG.
Source: CryptoPotato
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