Bitcoin Price Surges During Trump’s Speech at Nashville Conference

Bitcoin experienced sharp price movements over the weekend. BTC saw a $2,000 drop shortly after President Joe Biden announced his decision to withdraw from the 2024 presidential race. BTC then surged more than $3,000 to reach $68,400 on Monday. However, this upward trend did not last long and the price fell to $63,400 on Thursday. Then, a recovery followed, and the value approached $68,000 on Saturday. Trump’s speech at the Nashville conference sent #BTC prices above $69,300, a seven-week high. However, volatility continued, with Bitcoin fluctuating between $66,500 and $69,000 before settling around $67,500.

Most alternative coins have suffered significant losses in the past 24 hours. Among the leading cryptocurrencies, Ethereum (ETH) and Binance Coin (BNB) fell by about 1.5%. ETH fell to $3,225, while BNB fell to $578. Similarly, Solana (SOL), Cardano (ADA), Shiba Inu (SHIB), Polkadot (DOT), and Chainlink (LINK) were also in a downtrend. Dogecoin (DOGE), Toncoin (TON), and Avalanche (AVAX) in particular fell by 3-4%, while NEAR, WIF, Aptos (APT), and Render (RNDR) fell by up to 6%. Amid these declines, some altcoins such as XRP, TRX, and Bitcoin Cash (BCH) showed resilience, with BCH in particular gaining 3.5%.

The total market value of all cryptocurrencies decreased by $30 billion overnight, falling below $2.520 trillion. Despite the recent volatility, Bitcoin’s market dominance has risen to 52.9%, reflecting the relatively stronger performance of #BTC relative to alternative coins during this period.