Bitcoins price actions have been heavily influenced by major economic developments on the US front once again, as it dropped from over $70,000 to $66,000 ahead of the US CPI data and the latest FOMC meeting.

The altcoins also faced massive volatility lately, but PEPE has emerged as the top dog with a 10% surge.

BTC Prepares for US Developments

The primary cryptocurrency had a violent end to last week as it dropped from $72,000 to under $68,600 in hours. The weekend was a lot less eventful as the asset recovered some ground and stood at just over $69,000.

The landscape took a more positive turn on Monday when bitcoin jumped by just over $70,000 once again. However, the end of the impressive spot BTC ETF streak of inflows resulted in more pain for the underlying asset, which tumbled toward $68,000 on Tuesday.

Another price decline followed suit in the past 12 hours that drove BTC to its lowest position since May 20 of $66,000. This came amid fears about the US CPI data and the next FOMC meeting, both of which should be today.

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Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! Bitcoin has been able to bounce off and currently trades above $67,000. However, more volatility is expected during the day after both those US developments take place.

For now, BTCs market cap stands below $1.330 trillion, while its dominance over the alts is at 51.5%.

Bitcoin/Price/Chart 12.06.2024. Source: TradingView

PEPE Defies Overall Trend

Most larger-cap alts have been quite sluggish over the past 24 hours after they lost a lot of value yesterday. ETH, SOL, XRP, DOGE, ADA, SHIB, AVAX, LINK, and TRX are still slightly in the red.

In contrast, TON has jumped by 3%, while KAS has added just over 4% in the past day.

PEPE has emerged as the top performer from this cohort of assets. The meme coin is up by 10% and sits above $0.000013 now.

In contrast, FET has dumped by more than 8%, followed by AR (-5%), IMX (-4%), and FIL (-4%).

The total crypto market cap has shed some more value and now sits below $2.6 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

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Cryptocurrency charts by TradingView.