On October 29, Bitcoin (BTC) surpassed $71,000, buoyed by personal inflows into ETFs, while significant gains were observed in major altcoins like Ethereum (ETH), Solana (SOL), and XRP. The overall market capitalization rose by 4.5%, and meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) also demonstrated impressive growth, contributing to a vibrant trading environment throughout the day.

Cryptocurrency prices experienced significant upward momentum on October 29, with Bitcoin (BTC) notably surpassing the $71,000 mark, fueled by a surge in inflows from spot exchange-traded funds (ETFs). Accompanying this ascension, major altcoins such as Ethereum (ETH), Solana (SOL), and XRP also exhibited commendable gains, reflecting broader market enthusiasm. Notably, the meme coin sector, which includes popular tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB), echoed this positive sentiment, achieving substantial increases in value. The total cryptocurrency market capitalization rose 4.5%, reaching approximately $2.41 trillion, while trading volumes escalated dramatically to $97.61 billion, marking a 102.14% increase. This report delves into the price movements of leading cryptocurrencies as of October 29. Bitcoin (BTC) demonstrated an impressive 5% increase in the past 24 hours, reaching a current price of $71,036. Its daily lows and highs were recorded at $67,535.13 and $71,475.47, respectively. Furthermore, this bullish trend aligns with the $479.35 million inflow into Bitcoin ETFs, contributing to BTC’s market dominance of 58.52%, an increase of 0.31%. Ethereum (ETH) mirrored this trend with a similar 5% gain, resulting in a trading price of $2,607. Its trading range provided an intraday low of $2,471.76 and a peak of $2,627.13. Notably, despite experiencing $1.14 million in outflows from its ETF counterpart, ETH’s surge brought its market cap to an estimated $313.94 billion. Solana (SOL) saw a 4% increase to a price of $182, with its intraday values fluctuating between $172.87 and $181.88. The coin’s market capital stood at $85.59 billion, with speculation suggesting a potential target of $400 due to significant whale activity. XRP increased by 2%, trading at $0.5236, with its trading limits set between $0.5114 and $0.5255. XRP’s market capitalization was approximately $29.75 billion amidst prominent movements from XRP-linked whales. Meme coins also participated in this upward trend, with Dogecoin (DOGE) enjoying a remarkable 15% increase, trading at $0.1668, and Shiba Inu (SHIB) achieving an 8% upsurge to $0.00001835. Other meme tokens such as Pepe Coin (PEPE) and dogwifhat (WIF) also recorded gains ranging from 6% to 17%. In terms of significant gainer coins, Mog Coin (MOG) rose nearly 15% to $0.000001931, while THORChain (RUNE) experienced a 16% climb to $6.14. Bitcoin SV (BSV) also reported a 15% increase, reaching $52.35. Conversely, some cryptocurrencies experienced downticks, including Mantra (OM), which fell by 2.5% to $1.37; Celestia (TIA), diminishing about 1% to $5.06; and ApeCoin (APE), which marginally declined to $1.08. Overall, market sentiment reflects mixed trends as BTC and ETH display contrasting price movements, prompting speculation in the cryptocurrency sphere. The market remains dynamic and vigilant in anticipation of continued fluctuations and potential recoveries.

The cryptocurrency market frequently undergoes rapid fluctuations influenced by various factors including investor sentiment, regulatory developments, and participation from institutional investors. Recent data indicated that significant inflows into Bitcoin ETFs have sparked renewed interest in digital assets, hence contributing to bullish trends across the market. Key cryptocurrencies, notably Bitcoin and Ethereum, have drawn attention due to their substantial market capitalizations and volatility, which are appealing to traders and investors looking for growth. Meme coins, despite their speculative nature, have seen renewed interest, confirming a trend where even lesser-known tokens can experience notable gains during market surges. This report aims to outline the current state of major cryptocurrencies and their respective movements amidst a significant uptick in trading volume and market cap.

In conclusion, the cryptocurrency landscape on October 29 showcased robust growth, particularly with Bitcoin surpassing $71K. Major altcoins such as Ethereum, Solana, and XRP followed suit with significant gains. The meme coin sector also displayed exceptional performance, indicating a wider acceptance and enthusiasm for various cryptocurrencies. With an overall increase in market capitalization and trading volumes, the current trends signal continued investor interest and potential for further developments in the market.

Original Source: coingape.com

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