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In the final months of 2023, Bitcoin continued its sharp rise, but after an ETF decision, the wind shifted, and the price plummeted from $49,000 to $38,500. However, BTC recovered and has since hosted a surge not seen for a long time. In recent days, the BTC price exceeded $64,270 before experiencing a slight pullback.
Bitcoin’s Incredible Surge
Last week’s incredible surge in Bitcoin’s price captivated the entire market. The rise peaked at $64,270 before quickly dropping to $59,500. In the following days, the price consolidated between $61,000 and $62,500, with funds shifting towards altcoins.
On the night of March 4th, Bitcoin’s price once again surpassed $64,000 but then pulled back once more. As of this writing, BTC’s price has exceeded this level again, reaching a new yearly high of $64,300.
On the other hand, in the BTC TRY pair, the price exceeded 2,000,000 Turkish Lira. Following this surge, there are already speculations about whether the price will rise again to $69,000 or even $100,000.
At the moments when the price returned above $64,000, BTC’s market cap also increased by 3.9%, exceeding $1.25 billion. The trading volume saw a 62% increase, settling back over $35 billion.
The Rise of Meme Coins
Meanwhile, meme coins continue their rapid ascent. FLOKI’s price increased by over 24%, reaching $0.0001555 with a market cap surpassing $1.4 billion. However, strangely, the trading volume decreased by 14%, falling to $1.15 billion, which could indicate waning investor interest.
PEPE’s price jumped by 67%, reaching $0.000006654, with its market cap nearing $3 billion. Lastly, looking at SHIB, the meme coin’s price increased by 31% to $0.00002644, continuing to please its investors.
