Bitcoin Rallies Towards $68k Following Last Week’s Poor Performance

TL;DR

• Bitcoin is up by 4% in the last 24 hours and is now trading at the $67k region.

• The world’s leading cryptocurrency by market cap underperformed last week after ETFs posted their first week of net negative flows since late January.

BTC Eyes $68k as Altcoins Also Rally Higher

Bitcoin, the world’s leading cryptocurrency by market cap, is starting the new week on a positive note. BTC is up by more than 4% in the last 24 hours and is now targeting the $68k region.

At press time, Bitcoin’s price stands at $67,013. If the momentum is maintained, BTC could be closing in on the $68k level in the coming hours. The positive performance comes following last week’s loss.

Bitcoin ended last week trading below the $64k level. Last week’s poor performance was attributed to U.S.-listed spot bitcoin ETFs recording their first week of net negative flows since late January.

With Bitcoin rallying, altcoins are also performing well. Ether, the second-largest cryptocurrency by market cap, is up by nearly 4% so far today and is trading close to $3,500 once again.

Internet Computer (ICP) is the best performer amongst the top 20 cryptocurrencies by market cap. ICP is up by 22% in the last 24 hours and is now trading at $17 per coin. ICP has overtaken NEAR, UNI and LTC to take the 18th spot in the market.