According to CryptoPotato, Bitcoin's price has seen significant fluctuations in the past week, peaking at over $70,000 before dropping to $67,000 a day later. Despite these fluctuations, the cryptocurrency has now stabilized at around $68,000. This volatility followed news of the US Securities and Exchange Commission's (SEC) impending approval of spot Ethereum ETFs, which led to a surge in Bitcoin's value to nearly $72,000. However, the price fell to under $66,500 just hours before the SEC's actual approval. Despite this, Bitcoin regained some traction over the weekend, breaking above $70,000 for the first time in about a week. However, the price fell again to just over $67,000 before bouncing back to near $69,000. Currently, Bitcoin's market cap is below $1.350 trillion, and its dominance over other cryptocurrencies has slightly decreased to 49.6%.
In other cryptocurrency news, meme coins SHIB and WIF have seen significant gains, with SHIB leading the surge with a 15% increase overnight. This surge has led SHIB to surpass Cardano, making it the 11th largest cryptocurrency by market cap. WIF also saw a substantial increase, with its value soaring by 20% in a day to trade close to $4. Other larger-cap altcoins such as SOL, TON, RNDR, and ATOM have seen minor gains, while ETH has decreased by 0.4% but still trades above $3,800. The total crypto market cap has recovered $35 billion overnight and currently sits above $2.7 trillion.
