The Bitcoin Conference in Nashville was the center of attention in the crypto community as Donald Trump took the stage to talk about BTC, causing significant price fluctuations for the asset. While most cryptocurrencies saw a slight dip in value, TON and DOGE were the top performers among the larger-cap coins.
Bitcoin had a rollercoaster weekend, dropping $2,000 in minutes after President Joe Biden withdrew from the 2024 election race, only to surge by over three grand shortly after. The price of BTC reached a high of $68,400 on Monday, the first time in over six weeks. However, the momentum was short-lived as the price started to decline gradually. A more significant drop occurred on Thursday, falling from $67,200 to $63,400 before bouncing back to $68,000 on Friday and Saturday.
The anticipation of Trump’s speech led to a spike in Bitcoin’s price to over $69,300, but the volatility continued as the price dropped to $66,500, recovered to $69,000, and settled at $67,500. Despite the fluctuations, Bitcoin’s market cap has decreased to $1.330 trillion, with its dominance over other altcoins increasing to 52.9%.
On the other hand, most alternative coins experienced gains in the past 24 hours but have since retraced. ETH and BNB are down by 1.5% each, while SOL, ADA, SHIB, DOT, and LINK have also seen similar percentage declines. Dogecoin, Toncoin, and Avalanche have dropped by 3-4%, and NEAR, WIF, APT, and RNDR are down by up to 6%. XRP, TRX, and BCH are among the few alts in the green, with Bitcoin Cash seeing a daily surge of 3.5%.
The total cryptocurrency market cap has decreased by about $30 billion overnight and is currently below $2.520 trillion. Despite the market fluctuations, there are still opportunities for traders and investors to take advantage of special offers and rewards on platforms like Binance and BYDFi Exchange.
It is essential to conduct thorough research and consider the risks before making any investment decisions in the volatile cryptocurrency market. Stay informed and stay cautious to navigate the ups and downs of the digital asset space.