Bitcoin’s price has been relatively stable over the past 24 hours, with a notable increase of $800 bringing it close to $66,000. While altcoins have also seen minor gains, the standout performer has been Fetch.ai’s FET token, which surged by 30% to reach over $1.7.
Despite briefly spiking to $67,200, Bitcoin failed to maintain momentum and has been hovering just below the $66,000 mark. The recent volatility in the market has seen the cryptocurrency’s market cap remain below $1.3 trillion, with its dominance over other altcoins slipping slightly to 51.3%.
In contrast, several AI-related tokens like NEAR, RNDR, and TON have seen gains of 9%, 6.5%, and 5% respectively. However, other major altcoins like SOL, UNI, DOT, and LEO are slightly in the red.
Overall, the total crypto market cap has rebounded by around $50 billion since the mid-week low, now sitting above $2.5 trillion. This recovery comes amidst growing interest in cryptocurrency investments, with platforms like Binance offering exclusive welcome offers to new users.
It is essential for investors to conduct their own research and exercise caution when navigating the volatile cryptocurrency market. While opportunities for significant gains exist, there are also inherent risks involved in trading digital assets. By staying informed and making well-informed decisions, investors can navigate the crypto landscape more effectively.