Bitcoin rallied above $66K driven by ETF inflows ($227M in two weeks), whale accumulation, and positive US economic indicators including lower inflation.
Macro & Markets ·
Bitcoin rebounded from a dip below $64,000 to reach a monthly peak above $66,000, with its market capitalization climbing to $1.330 trillion, according to CryptoPotato. The recovery followed favorable June consumer price index data and extended through the weekend despite resistance around $65,000. Bitcoin's dominance over altcoins increased to 57.2% during the move.
Altcoins broadly rallied alongside the rebound. Ethereum approached $1,950, XRP tested $1.13 resistance, and Cardano surged over 8% to trade at $0.175. Several other tokens including ONDO, BCH, UNI, AAVE, DOT, and WLD posted notable daily gains.
The combined cryptocurrency market capitalization expanded by $70 billion in a single day to reach $2.320 trillion, marking the first time in a month that the metric exceeded that threshold. The scale and breadth of the advance suggest sustained buying pressure across both major and smaller-cap assets, though the sustainability of these gains and the factors sustaining altcoin momentum remain to be tested in coming sessions.