Bitcoin’s price experienced significant volatility leading up to the highly-anticipated fourth halving, but has since stabilized.
Most altcoins have seen a slight increase in value over the past 24 hours, with the exception of TON which has seen a double-digit decline despite positive news from Tether.
The calmness in BTC’s price can be traced back to last Friday when it dropped from $71,000 to $65,000. It briefly recovered the next day but soon dropped to $61,000 due to escalating tensions between Israel and Iran.
The following week saw further declines as the conflict continued, with Bitcoin dropping below $60,000. However, it quickly bounced back to $65,000 as tensions eased.
The highly-anticipated fourth halving event occurred a few hours ago, reducing block rewards to 3.125 BTC. So far, Bitcoin’s price has remained relatively stable at around $64,000 with a market capitalization of over $1.250 trillion.
In contrast, altcoins ADA and ICP have seen significant increases in value, with ICP up by 13% and ADA up by 7%. The rest of the larger-cap altcoins have also seen modest gains.
The overall cryptocurrency market cap is currently around $2.450 trillion on CoinGecko.
Positive news from Tether and TON has had a significant impact on the market, with TON’s price initially surging but ultimately experiencing a 12% decline. Meanwhile, ICP and ADA have seen significant gains.
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Charts for cryptocurrencies can be found on TradingView.
