• The cryptocurrency market remains relatively flat, with the exception of PEPE which continues its bull run.
• Bitcoin’s price remains at $29K and has failed to produce any meaningful results in the past 24 hours.
• Liquidations over the past 24 hours are around $26 million, specific to Bitcoin, indicating low volatility.
Cryptocurrency Market Overview
The cryptocurrency market has been relatively flat throughout the day, with one major exception – PEPE. This memecoin has been on an epic bull run and is now ranked in the top 100 cryptocurrencies.
Bitcoin Price Analysis
Bitcoin’s price has remained steady at $29K for the last 24 hours, with some brief volatility reaching a high of $29.5K before quickly retreating again as buyers were unable to sustain the momentum. Liquidations over this same period have amounted to roughly $26 million, showing an overall lack of volatility in the market.
PEPE Bull Run
PEPE continues to dominate the crypto markets as it forays through the top 100 list. All eyes remain on this memecoin as it makes its impressive gains and looks set to continue its bullish trend for some time yet.
US Federal Reserve Rate Hike Impact
The recent rate hike from US Federal Reserve failed to cause any significant fluctuations in bitcoin’s price or other cryptos in general, indicating that traders weren’t particularly shaken by this news event.
Conclusion
Overall it appears that while PEPE is making incredible gains, most of the other cryptocurrencies are stuck within tight ranges and aren’t likely to see much movement until a major event occurs that shakes up investors‘ confidence or sentiment towards these assets.