LINK Explodes 18% Daily, BTC Maintains $66K as Bitcoin ETF Inflows Continue (Market Watch)
Aside from LINK, the other notable gainers are AVAX, ADA, ICP, and HBAR.
Bitcoin’s price tapped a multi-week high yesterday at around $66,600 before it was pushed down by about a grand but has reclaimed the $66,000 level as of now.
Several altcoins have continued their recent rally, with LINK taking the main stage following a massive 18% surge.
BTC Back to $66K
The primary cryptocurrency had a tough end of the previous business week when it was brought down to just inches above $60,000. Instead of going below that coveted round-numbered milestone, though, the asset bounced off during the weekend and especially on Monday.
The bulls initiated an impressive leg-up at the start of the current week that drove bitcoin to just over $63,000. It failed there at first, dropping to $61,200 amid some Coinbase issues , but went back on the offensive on Wednesday after the US announced the CPI numbers for April.
As the spot Bitcoin ETF inflows kept increasing on Wednesday and Thursday, BTC’s price soared to a three-week high of just over $66,500. The asset retraced slightly yesterday evening but has jumped back above $66,000 as of now amid the fourth consecutive day of positive flows into those ETFs.
Its market cap remains slightly above $1.3 trillion, but its dominance over the alts has taken a hit and is down to 51.7%.
LINK Skyrockets
Most alternative coins turned green yesterday in a similar fashion to bitcoin. While some, such as BNB, DOGE, TON, TRX, and SHIB, are slightly in the red now, most others have kept climbing.
Ethereum and Ripple are up by 0.5-1%, which has helped the former maintain $3,000 and the latter $0.5. More gains come from the likes of SOL, ADA, AVAX, DOT, BCH, HBAR, and ICP.
However, Chainlink has stolen the show from the larger-cap alts. LINK has skyrocketed by more than 18% in the past day and now trades above $16.
The total crypto market cap has remained relatively still on a daily scale at just over $2.5 trillion on CG.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Assessing if Avalanche’s growing network activity can spur AVAX’s price recovery
Berkshire's stock hits a new high amid tech plunge as return to yen bonds sparks heated "increase positions in Japan" discussion
Berkshire Hathaway has hired banks to prepare for its first yen bond issuance since April, aiming to raise more funds in Japan. According to sources familiar with the matter, Berkshire has mandated Mizuho Securities and Bank of America Securities for a potential benchmark yen bond issuance, which is expected to take place in the near future, though the exact timing will depend on market conditions.
Nomura's monopoly is being challenged! Mizuho (MFG.US) is reshaping Japan's underwriting landscape with global IPOs
Mizuho is establishing a solid foothold in Japan's equity capital market by leveraging a unique and highly profitable track: on one hand, it is tapping into the strong demand for AI financing from the US market, and on the other, connecting with the vast domestic household savings in Japan.
Crypto prices
More
