Bitcoin continues to record new highs as the heat from Trump’s victory in the presidential election continues, with focus shifting to his planned policies.
Trump has vowed to make the United States the cryptocurrency capital of the world and has even floated the idea of a national Bitcoin reserve. Cryptocurrency advocates hope this will lead to a more friendly regulatory environment, making Bitcoin an investment vehicle.
BTC crossed the $90,000 mark for the first time, setting a new ATH at $93,265 before selling pressure increased sharply, bringing the price back to around $89,000 at the moment.
BTC Price Chart – 4 Hours | Source: TradingView
On the Altcoin side, memecoin jumped strongly while most of the major projects in the top 100 simultaneously lost points.
Peanut the Squirrel (PNUT) has seen a sharp increase in price since its listing on Binance. Its market cap has also reached $1.6 billion, making it the 59th largest crypto project by market cap.
In the past 24 hours, PNUT has surged 250% and on the weekly timeframe, the token has bounced over 1,300%.
Other major memecoins like Pepe (PEPE), dogwifhat (WIF), Mog Coin (MOG), Popcat (POPCAT), Floki (FLOKI) also jumped 10 – 40% on the day.
On the contrary, major altcoin projects such as Hedera (HBAR), Neiro (NEIRO), Stellar (XLM), Celestia (TIA), Mantra (OM), Kaspa (KAS), Starknet (STRK), Fantom (FTM), Cronos (CRO), Arweave (AR), Polygon (MATIC), Worldcoin (WLD), Immutable (IMX), MultiversX (EGLD)… turned down from 6-10%.
Source: Coin360
Ethereum (ETH) fell after failing to sustain above the $3,300 mark.
The second-largest asset by market capitalization has lost 2.5% of its value and is currently trading just below the $3,200 mark.
ETH Price Chart – 1 Day | Source: TradingView
#MarketDownturn #write2win #btc #bnb #eth $PEPE $WIF $FLOKI
