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<p>Whoever has been in crypto for a long time knows that weekends are usually very slow. We can’t really say this about this one.</p>
<p>On Sunday morning, Bitcoin price broke above $60k. Anytime BTC crosses a psychological level like this one, it’s a positive sign for crypto traders.</p>
<h2 class="wp-block-heading" id="bitcoin-price-pumping-but-why">Bitcoin Price Pumping, But Why?</h2>
<p>You’re never 100% sure in crypto. However, it’s widely known now that the <a href="https://captainaltcoin.com/how-much-bitcoin-did-german-government-sell-this-week-btc-price-holds/" target="_blank" rel="noopener noreferrer nofollow">German government sold over $3.3 billion in Bitcoin</a> in the last 24 days, as we reported yesterday. They actually sold all of their Bitcoin holdings.</p>
<p>This put massive pressure on the price, and BTC lost the $60k level at the beginning of July.</p>
<p>It then crashed to the $53k area.</p>
<p>However, as this sell-off finally ended yesterday, it looks like more belief in Bitcoin and crypto in general started, and bulls came into the picture.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/youtuber-predicts-kaspa-kas-price-is-about-to-explode-heres-how/" target="_blank" rel="noopener noreferrer nofollow">YouTuber Predicts Kaspa (KAS) Price is About to ‘Explode’ – Here’s How</a></strong></em></p>
<h2 class="wp-block-heading" id="are-there-any-other-news-on-bitcoin-and-altcoins">Are There Any Other News on Bitcoin and Altcoins?</h2>
<p>Notable news is definitely that the <a href="https://captainaltcoin.com/xrp-price-pumps-as-sec-announces-secret-meeting-is-it-about-ripple/" target="_blank" rel="noopener noreferrer nofollow">SEC announced a meeting</a> behind closed doors, and some sources noted it will be about Ripple and a possible settlement in that case.</p>
<p>The <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> price pumped 20% this week and is now trading above $0.5. However, it looks like this pump is slowing down today as the Ripple community awaits what will happen on July 18th, when this meeting is scheduled.</p>
<p>Moreover, ETH ETFs should start trading soon as these were approved in late May.</p>
<p>As Cointelegraph <a href="https://cointelegraph.com/news/ethereum-etf-inflows-10-billion-eth-new-highs-analyst" target="_blank" rel="noopener noreferrer nofollow">reported</a> on Friday, Ether ETFs could attract up to $10 billion in new inflows and propel ETH price to new ATHs later this year.</p>
<p>The whole Ethereum ecosystem looks like the <em>“most undervalued ecosystem in web3”</em> according to Michaël van de Poppe.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a> is the most undervalued ecosystem in the Web 3.0 space<br><br>This week I’ve learned that a lot is happening within the Ether ecosystem that social media doesn’t reflect. <br><br>The gap between fundamental growth and negative price sentiment has never been this big, that I’m very…</p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1811823492901253624?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 12, 2024</a>
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<h2 class="wp-block-heading" id="conclusion-what-s-next">Conclusion – What’s Next?</h2>
<p>The momentum is definitely positive right now in the market. In fact, bulls might be able to push the BTC price even higher, with the $63k area potentially being the next target.</p>
<p>Bitcoin hasn’t traded above $63k for almost a month, so breaking this level would be another positive news for traders. Altcoins typically perform well when Bitcoin shows strength as well.</p>
<p>All in all, hold your bags. We at CaptainAltcoin eagerly await the next big leg up in this bull run and a positive H2 2024.</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/heres-why-the-crypto-market-is-up-today-as-bitcoin-price-crosses-60k/" rel="noopener noreferrer nofollow">Here’s Why the Crypto Market is Up Today as Bitcoin Price Crosses $60k</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Here’s Why the Crypto Market is Up Today as Bitcoin Price Crosses $60k

Table of Contents

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