CoinFactiva: Bitcoin Surges Over $4K During Weekend Amid High Volatility. What Else Happened?

Bitcoin Demonstrates High Volatility

Bitcoin exhibited substantial price fluctuations, trading between $58,000 and $70,000. Its value soared above $63,000 within a 24-hour period and is currently trading at $62,800.

Current Trading Status

As of Monday, July 1st, Bitcoin is being traded at approximately $63,428 on Binance against USDT. Its market capitalization amounts to $1.24 trillion. Over the past day, Bitcoin's price has appreciated by approximately 4%.

June Performance

In June, Bitcoin's value declined by 6.9%. Despite this dip, experts remain optimistic about its medium-term outlook.

Upcoming Economic Data

From July 1st to 5th, Bitcoin's volatility is anticipated to increase due to the release of crucial US macroeconomic data. Manufacturing and services activity indices will be released on Monday. Fed Chair Jerome Powell will address the public on Tuesday. The FOMC minutes will be published on Wednesday. The US labor market report and the Fed's monetary policy report will be released on Friday.

Ethereum's Performance

Ethereum's price has stabilized above $3,400. As of 09:00 AM CET, ETH is valued at $3,482.

Potential Ethereum ETF Approval

Spot ETFs linked to Ethereum may be approved this week. Several sources suggest that the SEC is close to a favorable decision.

Other Cryptocurrencies

Other major cryptocurrencies, including Ripple's XRP, Binance's BNB, Cardano (ADA), Dogecoin (DOGE), and Toncoin (TON), witnessed a rise between 1% and 3%, following Bitcoin's lead. Solana (SOL) experienced the most significant surge, climbing 6.8% to $147.5 over the last 24 hours.

Solana's Growth

Solana's price increased significantly after VanEck submitted a filing for a spot ETF for Solana with the SEC on June 27th.

Top Performers and Decliners

Among the top 100 cryptocurrencies by market capitalization, Ethereum Name Service (ENS) displayed the highest growth, surging by 27%. Kaspa (KAS) endured the most significant decline, dropping by 2.5% over the past day.

Source: coinfactiva.com/bitcoin-surges-over-4k-during-weekend-amid-high-volatility/