Bitcoin Price Crosses $65,000, Approaches All-Time High as Momentum Continues
The price of Bitcoin (BTC) surged past the $65,000 milestone during the early hours of Monday in Europe, making significant strides towards its previous record of $69,000 achieved in November 2021.
Over the past 24 hours, BTC experienced a remarkable increase of over 5%, according to data from CoinMarketCap.
The leading cryptocurrency is up more than 26% over the past week and 52% over the past month. It is less than 5% away from its ATH.
Likewise, the CD20 index, which encompasses a diverse range of tokens, witnessed a 5.6% rise within the same timeframe.
The broader crypto market also rallied alongside Bitcoin.
Ethereum (ETH), the second-largest cryptocurrency by market cap, has gained more than 3% over the past day to cross the $3,500 mark.
Meanwhile, meme coins have experienced a larger surge in prices, with Pepecoin (PEPE) leading the charge by soaring as much as 60% in the past 24 hours.
According to data from CoinGecko, trading volumes for frog-themed tokens, including Pepecoin, reached all-time highs of $3.6 billion.
This surge in trading activity can be attributed to a risk-on environment prevailing in the market, which has prompted investors to place larger bets on riskier assets such as altcoins and meme coins.
What makes Pepecoin’s gains particularly notable is that they have outpaced other meme tokens like shiba inu (SHIB) and dogecoin, despite the introduction of ecosystem upgrades by the developers of these tokens.
Over the past week, DOGE has gained 170%, while SHIB has seen a 200% increase in value.
As reported, a new report from Matrixport predicts that Bitcoin could reach a target of $63,000 by March 2024.
In its report, Matrixport identified some key catalysts that could propel
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