Shiba Inu (SHIB) explodes 18% every day, Bitcoin (BTC) exceeds $65,000 (Weekend Watch)

Bitcoin's price recovery continues after the recent massacre, with Bitcoin currently trading at around $65,000.

Currently, altcoins are making even more gains, with ETH and BNB surging around 4%, while SHIB is stealing the show.

Bitcoin aims for $65,000

It's safe to say that the week leading up to Bitcoin's fourth halving was quite painful. The asset fell from more than $70,000 to $65,000 last Friday, and then plummeted to $61,000 a day later.

After regaining some traction by Monday, BTC headed into another freefall midweek, and then another freefall on Friday amid rising tensions between Iran and Israel. The last significant drop took BTC below $60,000 just hours before the much-anticipated halving took place.

However, over the next half day, the cryptocurrency skyrocketed by more than five grand and was worth about $65,000 by the time the halving was completed.

There has been little volatility since then, with Bitcoin now sitting around $65,000 again after failing at $66,000 earlier today. The company's market capitalization remains below $1.3 trillion, and its advantage over alternatives has taken a hit, falling to just under 51%.

SHIB appears on the main stage

The altcoin has performed much better than BTC in the past 24 hours, led by Shiba Inu, the second largest meme coin. SHIB has surged 18% and is currently trading above $0.000027.

Other lower cap meme coins such as BONK, FLOKI, and PEPE are also showing double-digit gains.

Solana, Avalanche, Bitcoin Cash, Dogecoin, Chainlink, Polygon, and Polkadot are also doing well, rising around 6-8%.

The market capitalization of virtual currencies increased by more than $50 billion in one day, and in CG it exceeded $2.5 trillion.