The price of Bitcoin witnessed a significant rise, surpassing the $65,000 level for the first time in weeks, but the news of Mt.Gox led to a decline of more than $2,000 in just minutes.
The prices of many altcoins rose significantly over the past day, with most of them recording double-digit growth rates.
Bitcoin price fluctuations:
The largest cryptocurrency ended the previous business week higher, recovering part of its recent losses to reach around $58,000.
The weekend was expected to be less volatile, but the failed assassination attempt against pro-crypto US presidential candidate Donald Trump brought significant volatility.
Bitcoin saw a rise of more than a few thousand to reach $60,000 for the first time in more than a week.
On Monday, Bitcoin posted an even more impressive rally as the coin's price reached $63,000, its highest level in two weeks.
In the early hours of Tuesday, Bitcoin rose again, reaching $65,000.
This rise means that Bitcoin has recovered more than ten thousand dollars since the collapse of July 5.
However, prices fell again when news emerged about the bankrupt company Mt.Gox transferring billions of dollars in Bitcoin, sparking a negative reaction in the markets.
Within a few hours, the cryptocurrency fell by $2,500 to $62,500, causing its market value to fall to $1.234 trillion, and its dominance over altcoins to 51.2%.
On the other hand, most of the major alternative digital currencies with a large market capitalization witnessed a decline today after several days of gains.
On the other hand, PEPE emerged as the biggest winner today, rising by 16% over the past 24 hours and exceeding the $0.000013 barrier.
WIF and FLOKI also saw significant increases of 14% and 13%, respectively.
Despite these fluctuations, the total cryptocurrency market cap remains above $2.4 trillion, although it is down $50 billion from its peak earlier in the day.
