Bitcoin Price Soars Beyond $66K Amid Record Inflows in Bitcoin ETFs
- The cryptocurrency market witnessed a significant surge, driving global investor confidence.
- Bitcoin and Ethereum ETFs recorded massive inflows, fueling the bullish market sentiment.
- Pepe Coin emerged as a standout performer in the altcoin segment, leading with substantial gains.
Discover the latest developments in the crypto market as Bitcoin ETFs lead the charge, Ethereum follows suit, and altcoins like Pepe Coin shine brightly.
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Bitcoin Price Surges Past $66K Amid ETF Inflows
In an impressive rally, Bitcoin (BTC) price surged past the $66,000 mark, driven by substantial inflows into Bitcoin ETFs. The coin’s intraday trading range was noted between a low of $65,107.12 and a high of $66,255.53. Contributing to this upward trajectory were inflows worth $494.45 million recorded as of September 27. Despite the price hike, Bitcoin’s market dominance dipped slightly by 0.20% to 56.13%, with its market cap stabilizing at $1.31 trillion.
Ethereum Follows with a 2% Increase Backed by ETF Inflows
Ethereum (ETH) mirrored Bitcoin’s upward trend, recording a near 2% increase to trade at $2,691. The token’s trading range for the day spanned between $2,637.98 and $2,728.07. Reflecting its growing institutional interest, spot Ethereum ETFs registered $58.65 million in inflows by September 27, pushing its market cap to $323.92 billion. Whale Alert data highlighted significant whale activity, adding to the bullish sentiment surrounding ETH.
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Altcoins Show Mixed Performance with Pepe Coin Leading Gains
The altcoin market presented a mixed bag with notable performances. Pepe Coin (PEPE) led the pack, soaring by 20% to trade at $0.00001135. Similarly, Solana (SOL) gained about 2%, with its price reaching $158. Solana’s positive price action was underpinned by strong on-chain metrics, contributing to its market cap of $74.38 billion.
XRP and Memecoins Join the Rally
XRP also saw a modest increase of 1%, trading at $0.5904. The coin’s 24-hour range extended from $0.5853 to $0.597, with its market cap resting at $33.38 billion. In the meme coin segment, Dogecoin (DOGE) and Shiba Inu (SHIB) recorded gains of 6% and 10%, respectively. DOGE traded at $0.1259, while SHIB reached $0.00002097.
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Not all cryptocurrencies mirrored the bullish sentiment. Popcat (POPCAT) experienced a 5% decline, resting at $0.9436, with a 24-hour low and high between $0.9169 and $1.08. eCash (XEC) followed with a 4% drop, trading at $0.00003823. Sei (SEI) noted a 3% decrease to $0.4566, demonstrating the market’s volatile nature.
The cryptocurrency market showcased varying degrees of performance across different sectors, led by significant gains in Bitcoin and Ethereum. Their upward momentum was largely supported by considerable ETF inflows, underscoring increasing institutional interest. Altcoins like Pepe Coin and Solana also experienced notable gains, adding to the market’s bullish sentiment. As always, investors should stay informed and cautious, given the inherent volatility of the crypto market. Looking ahead, the market’s trajectory will likely depend on continued institutional support and macroeconomic factors.
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