Bitcoin Hits $69K, Dogecoin Continues 30% Weekly Surge (Weekend Market Watch)

Bitcoin’s recent rally pushed the asset to $69,000 for the first time since late July, followed by a slight correction. Meanwhile, Dogecoin's impressive weekly surge surpasses 30%, making it one of the standout performers.

Bitcoin Reaches $69K

Bitcoin's remarkable climb continued over the past 24 hours, hitting the $69,000 milestone. This marks the first time since July 29 that BTC reached such a high. The cryptocurrency had been trading between $62,000 and $63,000 last weekend, having rebounded from a dip below $59,000 on Thursday.

The market saw increased volatility on Tuesday, with Bitcoin spiking from $65,500 to $68,000, only to fall back below $65,000 soon after. Despite the turbulence, bullish momentum quickly regained strength, driving BTC to new local highs. Late last night, the asset touched $69,000, though it couldn't hold that level and experienced a slight retrace, now hovering above $68,000.

Bitcoin's market cap remains strong at $1.35 trillion, and its dominance over the altcoin market has climbed to over 55%, a multi-year high.

Dogecoin Extends Gains

Dogecoin continues its massive run, leading the charge among major altcoins. The popular meme coin surged another 6.5% today, bringing its weekly gains to over 30%. DOGE now trades at a multi-month peak of $0.144, fueling speculation about whether it could reach $1 in the current market cycle.

Other large-cap altcoins showed less dramatic movement. Ethereum (ETH), Binance Coin (BNB), XRP, and TRX saw minor declines, while Solana (SOL), Toncoin (TON), Cardano (ADA), Avalanche (AVAX), and Shiba Inu (SHIB) posted modest gains.

Among the top 100 altcoins, Worldcoin (WLD) stood out with a 13% surge over the past day, emerging as the best performer.

Overall, the total crypto market capitalization has increased by approximately $15 billion, surpassing $2.45 trillion, according to CoinGecko.