Bitcoin Approaches $70k as Market Recovers from Recent Dip

Twitter icon  •  Published 5 महीने पहले on July 29, 2024  •  Hassan Maishera

Bitcoin is approaching the $70k psychological level after adding more than 3% to its value over the weekend as the broader market recovers from its recent bearish run.

Bitcoin Approaches $70k as Market Recovers from Recent Dip

TL;DR

  • BTC is up by more than 3% over the last 24 hours and is now trading above $69k per coin.

  • Solana has surpassed BNB to become the fourth-largest cryptocurrency by market cap and is now trading above $190. 

BTC Approaches $70k as Solana Flips BNB

The cryptocurrency market has completely recovered from last week’s bearish run after rallying by more than 3% over the weekend. The rally comes following Trump’s speech at the Bitcoin Conference in Nashville.

Republican candidate Donald Trump revealed that the United States of America will be the center of the crypto world if he is elected president. He added that one of his first tasks in office would be to sack the current SEC chairman Gary Gensler.

Trump further promised to maintain a "strategic national bitcoin reserve" and "never sell" the government's seized bitcoin. 

Bitcoin has now added more than 3% to its value over the last 24 hours and is now trading above $69,500 per coin. If the rally is sustained, BTC could break above the $70k psychological level in the short term. 

Altcoins are also in the green, with most of them up by 3% or more. Ether added 4% to its value on Sunday and is now approaching $3,400. SOL, the native coin of the Solana blockchain, has successfully flipped Binance’s BNB token to become the fourth-largest cryptocurrency by market cap.

At press time, SOL is trading at $192 and has a market cap of $89 billion. BNB occupies the fifth position in the market with an $86 billion market cap. Thanks to the rally, the total cryptocurrency market cap is now approaching $2.5 trillion.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.