Bitcoin (BTC) enthusiasts are celebrating as the cryptocurrency surged to an impressive $67,200 within the last 24 hours, fueled by excitement following a recent halving event. The flagship digital currency now has its sights set on reclaiming the $70,000 mark, a move that could potentially propel it to new all-time highs in the weeks ahead. Adding to the excitement, Bitcoin miners, typically significant sellers, have noticeably held back from selling despite the uptick in mining difficulty.
As Bitcoin maintains its position around $66,300, altcoin markets are experiencing a surge in volatility, spearheaded by notable movements in Solana (SOL) and Ripple-backed XRP.
What next, though?
Santiment’s Top Altcoin Picks
Market intelligence platform Santiment has highlighted the shifting dynamics within the cryptocurrency market, particularly the trend of short-term Bitcoin traders moving towards more speculative altcoins, including meme coins.
Read More: Top Analyst See Bitcoin’s Daily RSI Breaks Out, Signals 15-20% Rally
Popcat (POPCAT): The Rising Star!?
Among meme coins, POPCAT, a Solana-based project, has emerged as a standout favorite among speculative investors. Market data reveals a significant 30 percent surge in the price of POPCAT over the past 24 hours, with its value hovering around 38 cents.
Despite its small-cap status, POPCAT boasts an impressive fully diluted valuation (FDV) of approximately $371 million, accompanied by a robust 24-hour trading volume of about $117 million. The recent price surge has reignited hopes of revisiting its all-time high, with anticipation mounting for further price discovery in the weeks to come.
Amp (AMP): DeFi Darling Sees Surge
In the DeFi-based altcoin category, Amp (AMP) has garnered significant attention, particularly due to a notable uptick in trading volume. According to data from Binance-backed Coinmarketcap, AMP witnessed a remarkable 50 percent spike in daily trading volume, reaching approximately $25 million during the early Asian session on Tuesday.
With a fully diluted valuation of around $796 million, this small-cap altcoin has witnessed a commendable 22 percent increase in value over the past seven days, currently trading at around $0.0079.
A Different Opinion: Post Bitcoin Halving Analysis: Short Squeeze Brewing in the Crypto Markets?
Thinking of joining the altcoin party? Share your picks with us!