Bitcoin has rebounded above $67,000 amid pre-FOMC volatility and investor confidence in buying the dip, despite macroeconomic concerns. During Monday’s Asian trading hours, Bitcoin (BTC) changed hands at around $67,800. This rebound comes after a weekend filled with both fear and greed, as BTC was driven down to $64,500 lows. However, it has since bounced back above $67,000, and heavy BTC put selling suggests that fear has dissipated, and investors are now willing to buy the dip.
Memecoins have also surged, driving the sector’s market cap over $55 billion. Top movers in the memecoin space include:
- SHIB: Up 10.8%
- WIF (DogWifHat): Up 30%
- CORGIAI: Up 8.5%
Additionally, the tokens behind the chains these meme coins are issued on are also headed upwards:
- Solana (SOL) is up 10.8% to $205.
- Avalanche (AVAX) is up 15% to $61.
Solana, in particular, has exploded as the trendiest crypto asset among traders, with new meme tokens popping up nearly every minute. The crypto market remains dynamic, influenced by factors like FOMC risk and macroeconomic concerns, but memecoins continue to capture attention and drive market movements.
