Bitcoin price soars to $63,000, but this viral meme coin attracts attention (Weekend Watch)

After several days of demoralizing price action, the bulls finally appear to be back in town. The cryptocurrency market has increased in total capitalization by approximately $70 billion in the past 24 hours.

This comes as Bitcoin has shown a remarkable recovery in the past 24 hours, jumping up to $63,000, so let's take a look.

Bitcoin price encourages recovery

Just a few days ago, Bitcoin fell below $60,000 and at one point fell below $59,000.

Fortunately, the bulls were able to recover very quickly and make an impressive rally that peaked at around $63,400 earlier today. The price has since returned a bit to its current trading levels, but BTC has nonetheless gained 3.4% over the past 24 hours.

It is worth noting that Bitcoin has performed relatively better than the other top 10 cryptocurrencies by market capitalization.

Around $120 million worth of leveraged positions were liquidated across the cryptocurrency market, the majority of which were shorts. Broad sentiment has also improved significantly compared to yesterday, now at neutral and up 17 points on the day.

green sea altcoin

As you can see in the heatmap below, the altcoins are in a live period and all are trading in the green.

Some large currencies such as ETH, BNB, SOL, XRP, DOGE, TRX, TONCOIN, and ADA have all recorded small gains in the range of 0.5% to 3%. What's notable is that, as mentioned above, Bitcoin's price has outperformed them all.

That being said, one of the best performers today is ETH's NEIRO, a viral meme coin that boasts one of the most vibrant online communities. It has managed to explode by more than 40% in the past 24 hours.

Overall, WhiteBIT Coin (WBT) was the second best performer in the top 100 (behind NEIRO) with an increase of around 30%, followed by Ethenea (ENA) with an increase of 25%.

Meanwhile, Uniswap (UN) fell 2% on the day. However, it's worth noting that UNI has increased by 17% over the past week.