According to CryptoPotato, Bitcoin's price has seen notable fluctuations in recent days, dropping to under $66,500 before rising to just over $69,000. Altcoins have also seen a slight increase, with Uniswap (UNI) experiencing a significant 20% surge, pushing its value over $10. PEPE, another altcoin, has reached a new all-time high.
The US Securities and Exchange Commission's approval of eight spot Ethereum ETFs on Thursday has been a major development in the cryptocurrency industry this week, primarily impacting Ethereum (ETH). This news, coupled with the surrounding hype, triggered a substantial rally for ETH, which rose from $3,100 on Monday to over $3,900 mid-week before slightly retracing to its current position of $3,750.
Several other altcoins have also seen substantial gains this week, including PEPE, which increased by another 12% in the past day, reaching a new all-time high of $0.00001538. Uniswap's native token, UNI, has also seen a significant increase, soaring by 20% and now trading close to $11. Other altcoins such as XRP, DOGE, TON, SHIB, DOT, IMX, and NEAR have also seen increases.
The total crypto market cap has recovered over $60 billion since yesterday and now sits close to $2.7 trillion. Bitcoin's price was also affected by the Ethereum ETF news, rising from $67,000 to a multi-week peak of $72,000 on Monday and Tuesday before retracing in the following days. The most significant price decline came on Thursday, just hours before the US SEC announced its decision, dropping BTC to under $66,500. However, the asset bounced back, experienced further fluctuations, and began to rise again last night, reaching just over $69,200. Currently, Bitcoin trades just below $69,000, with a market cap of $1.350 trillion and a dominance over the altcoins of 50.2%.