Bitcoin has surpassed $66,000 again after 58 days. The recent altcoin gains seem quite supportive for BTC, which is currently targeting $71,550. Meme coins such as Shiba Coin, FLOKI and PEPE recorded double-digit gains today. It was observed that the cryptocurrency had surpassed $66,000 at the time of writing. While the recent rise in altcoins is considered an important development, it signals that the stagnation period that has lasted for two quarters is over.

Bitcoin (BTC) Rising$BTC


After 58 days since July 31, BTC tested $66,000. Bitcoin, which is trading around $66,000 at the time of writing, had previously started increases from $57,255 and $53,000. However, it is expected to be stuck at $68,300 and $71,550 to break through this level. The last three months of the year are generally considered to be an upward period in cryptocurrency markets, and investors are expecting further increases in prices as we enter the final quarter. The Fed’s interest rate cut and the easing of recession concerns further strengthen the positive atmosphere in the markets.

If BTC can sustain above the $71,550 level, it could potentially surpass the all-time high of $73,777 to reach a new cycle high, in which case altcoins are also expected to extend their gains.

Star Altcoins of the Day
Shiba Coin is up 25% at the time of writing, to $0.0000214. DOGE has also surpassed $0.12; the rapid rise experienced by these two altcoins shows that investor appetite for altcoins has reached significant levels. In the last 24 hours, meme coins accounted for the majority of double-digit gains among the top 100 cryptocurrencies:

  • SHIB: %25

  • FLOKI: %18

  • BABY: %18

  • In: %16

  • BONK: %14

  • ORDI: %11

  • NOT: %11

While the total market value of cryptocurrencies increased from $2.22 trillion to $2.31 trillion this week, BTC’s market dominance decreased to 56.3%. According to CMC data, the fear and greed index is still hovering at 54, just above the neutral zone.

If BTC enters the weekend with a strong hold above $66,000, more exciting altcoin gains could follow over the next 48 hours.