Bitcoin Shows High Volatility
Bitcoin exhibited significant volatility, trading between $58K and $70K. Its price surged above $63K.
Current Trading Status
On Monday, July 1, Bitcoin is trading at approximately $63,428 on Binance against USDT. Its market capitalization stands at $1.24 trillion. Over the past 24 hours, Bitcoin’s price has increased by about 4%.
June Performance
In June, Bitcoin’s price decreased by 6.9%. Despite this dip, experts believe the medium-term trend remains bullish.
Upcoming Economic Data
From July 1 to 5, Bitcoin’s volatility might increase due to important US macroeconomic data releases. On Monday, manufacturing and services activity indices will be released. Fed Chair Jerome Powell will speak on Tuesday. On Wednesday, FOMC minutes will be published. On Friday, the US labor market report and the Fed’s monetary policy report will be released.
Ethereum’s Performance
Ethereum’s price has stabilized above $3,400. At 09:00 AM CET time, ETH is priced at $3,482.
Potential Ethereum ETF Approval
Spot ETFs based on Ethereum might be approved this week. Various sources indicate the SEC is nearing a positive decision.
Other Cryptocurrencies
Other major cryptocurrencies, including Ripple’s XRP, Binance’s BNB, Cardano (ADA), Dogecoin (DOGE), and Toncoin (TON), rose between 1% and 3%, following Bitcoin’s lead. Solana (SOL) saw the most significant increase, rising 6.8% over the past 24 hours to $147.5.
Solana’s Growth
Solana’s price surged after VanEck filed for a spot ETF for Solana with the SEC on June 27.
Top Performers and Decliners
Among the top 100 cryptocurrencies by market capitalization, Ethereum Name Service (ENS) showed the highest growth, increasing by 27%. Kaspa (KAS) experienced the most significant decline, dropping by 2.5% over the past 24 hours.
