What Happened?
Bitcoin took a sudden dive on Sunday, dropping below $66,000. Dogecoin and Shiba Inu followed suit, losing about 3% each.
Why the Drop?
The culprit? President Joe Biden’s announcement that he was stepping down from the presidential race. This news sent shockwaves through the crypto market, causing Bitcoin to plummet.
A Quick Recovery
But just as quickly as it fell, Bitcoin bounced back, hitting new monthly highs and crossing $68,000. Dogecoin and Shiba Inu followed suit, recovering from their lows.
Dogecoin’s Comeback
Dogecoin saw a particularly strong rebound, rising above $0.14 after dipping below $0.128. Its daily trading volume soared above $20 billion.
Shiba Inu’s Recovery
Shiba Inu also recovered from its lows, but its trading volume remained relatively low at around $383 million.
Bitcoin’s Bullish Outlook
Bitcoin continues to lead the market, holding strong above $67,000. It’s up about 12% in the past week.
