HBAR Skyrockets 60% Amid BlackRock Confusion, BTC Aims at $67K (Market Watch)

HBAR Skyrockets 60% Amid BlackRock Confusion, BTC Aims at $67K (Market Watch)

Bitcoin tried to take down the $67,000 level once more in the past day or so but failed to overcome it decisively and now sits inches below it.

The altcoins are well in the green, with ETH jumping to $3,250 and TON recovering some of the most recent losses. HBAR is today’s top performer after some interaction with BlackRock.

BTC Goes After $67K

Bitcoin’s price faced massive volatility last week, mostly driven by the escalating tension between Iran and Israel. The last such occasion was on Friday, hours before the fourth halving, when the latter launched an attack. In a matter of minutes, BTC slumped by several grand to under $60,000.

However, once Iran said there will be no retaliation soon, bitcoin went on the offensive and soared by more than $5,000. Another minor retracement followed to $63,000, but that was quickly overcome, and the cryptocurrency stood at around $65,000 once the halving was completed and the block rewards were slashed in half.

Since then, the price fluctuations have declined. Bitcoin has gradually increased in value and has challenged $67,000 a couple of times in the past day or so. So far, the asset has been unable to overcome that level and now trades a few hundred dollars below it.

Its market capitalization remains above $1.3 trillion, but the dominance over the alts has taken a hit and is down to 50.7% on CG.

Bitcoin/Price/Chart 24.04.2024. Source: TradingView
Bitcoin/Price/Chart 24.04.2024. Source: TradingView

HBAR Goes Up and Down

News came out yesterday that Hedera had partnered with Archax to tokenize BlackRock’s ICS US Treasury money market fund on its blockchain. The markets reacted immediately with a massive surge for HBAR, but then Archax’s CEO informed that it wasn’t BlackRock who picked Hedera, and it was the company he runs.

See also  Will This High-Potential Crypto Outpace Solana's Growth Trajectory?

HBAR retraced from its peak, but it is still 60% up on the day, despite the criticism on X.

The other most impressive gainers from the top 100 altcoins are mostly reps from the meme coin industry, as reported earlier.

The rest of the larger-cap alts are also in the green, with ETH trading above $3,250, TON recovering to $5.9, and SOL and BNB with minor gains.

The total crypto market cap has neared $2.6 trillion on CoinGecko.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

The post HBAR Skyrockets 60% Amid BlackRock Confusion, BTC Aims at $67K (Market Watch) appeared first on CryptoPotato.

Leave a Reply

Your email address will not be published. Required fields are marked *