Bitcoin Shoots Past $63K as Solana (SOL) Soars Toward $150: Market Watch

The start of the new week saw the overall cryptocurrency market attempt to recover, with its capitalization pushing towards the important $2.5 trillion market, up 2.6% on the day.

Bitcoin is now trading at around $63,000, and most altcoins are also making gains. There are some important events to watch this week, so let’s dive into them.

Bitcoin price rises to $63,000

At the time of writing, Bitcoin is trading at around $62,800, having reached a daily high of around $63,700. This represents a 2.6% increase over the past 24 hours for the underlying cryptocurrency.

It will be interesting to see whether BTC will be able to hold on to these gains and build on them or whether the bears will be able to push the price back towards $60k.

However, as we mentioned earlier today, some analysts are optimistic that July will be a good month for Bitcoin. They claim that this month has historically been a month of gains, especially after a red June (as it was this year).

As mentioned earlier, there are some important economic events happening in the US this week that could have an impact on price movement. here they are:

1. ISM Manufacturing PMI data for June – Monday.
2. Fed Chair Powell will speak – on Tuesday.
3. JOLTs Jobs Data – Tuesday.
4. Fed Meeting Minutes – Wednesday.
5. The stock market will be closed on Thursday.
6. June Jobs Report Data – Friday.

Solana leads altcoin recovery

Several large-cap altcoins are also trading well in the green, with SOL being a notable example. The cryptocurrency rose 4.6%, and is now heading towards $150.

LINK is up 5.31%, AVAX is up about 6%, NEAR is up 5%, and so on.

Interestingly, some categories are performing much better than others. For example, meme coins on Solana and Base have seen gains of 13% and 9% on average, respectively.

This is much more compared to the general category of meme coins (across all chains and all topics), which is up about 3%.