Bitcoin $BTC saw a massive surge late last week after the US Federal Reserve cut its key interest rates for the first time in over four years, sending the price from under $58,000 to over $60,000, and it has not retreated since.
The coin surged to $64,000 on Friday morning and has continued to climb this week. As previously reported, the coin has jumped to $64,800 on several occasions, most recently yesterday. However, the bears managed to defend that level, and the subsequent rejection sent Bitcoin south to $62,750 earlier today.
However, the cryptocurrency has since bounced back and added around $1,000, and is currently trading near $64,000. These volatile moves have occurred despite increased inflows into spot Bitcoin ETFs.
This means that Bitcoinâs market cap stands at around $1.260 trillion, but its dominance over altcoins has dropped slightly to 53.7% according to CoinGecko.
