Bitcoin experienced sharp price fluctuations 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 rose more than $3,000 to reach $68,400 on Monday.
However, this uptrend did not last and the price fell to $63,400 on Thursday. A recovery then ensued and the value reached nearly $68,000 on Saturday. Trump's speech at the Nashville conference put the price above $69,300, the highest level in seven weeks. However, volatility continued, with Bitcoin fluctuating between $66,500 and $69,000 before stabilizing at around $67,500.
Most altcoins suffered significant losses in the past 24 hours. Among the top cryptocurrencies, Ethereum (ETH) and Binance Coin (BNB) fell 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) are also in a downtrend. In particular, Dogecoin (DOGE), Toncoin (TON) and Avalanche (AVAX) are down 3-4%, while NEAR, WIF, Aptos (APT) and Render (RNDR) are down up to 6%. Amid these declines, several altcoins such as XRP, TRX and Bitcoin Cash (BCH) have shown resilience, with BCH in particular up 3.5%.
The total market value of all cryptocurrencies dropped by $30 billion overnight, to below $2.520 trillion. Despite recent volatility, Bitcoin's market dominance has increased to 52.9%, reflecting #BTC's relatively stronger performance compared to alternative coins during the period.
