Bitcoin (BTC) is currently trading in a narrow range between $68,000 and $69,000 after experiencing significant volatility last week. This follows a surge fueled by positive rumors about the US Securities and Exchange Commission (SEC) approving spot Ethereum ETFs. Bitcoin reached a high of nearly $72,000 but has since retraced and settled around its current price point.
Ethereum (ETH), on the other hand, has resumed its upward trend after the official approval of spot ETH ETFs. The price has surpassed the $3,900 mark, driven by this positive development.
While Bitcoin consolidates, meme coins are having a moment. PEPE continues its impressive run, setting a new all-time high of over $0.000017, with a 13% increase in the last 24 hours. FLOKI and BONK have also seen significant gains of around 13% each.
The majority of larger-cap altcoins are experiencing sluggish movement. However, Ethereum stands out with a 3.5% surge, reclaiming the $3,900 level. Conversely, some altcoins like DOGE, XRP, TRX, AVAX, NEAR, and BCH are facing slight price dips.
The total cryptocurrency market capitalization remains relatively stable at around $2.7 trillion.
