Bitcoin surged past the key $90,000 resistance level early in the US trading session, quickly pushing even higher to peak above $93,000 before stabilizing back around $90,000. The rally was driven by intense demand, with the Coinbase Premium Index hitting its highest level since April. Meanwhile, BlackRock’s iShares Bitcoin ETF (IBIT) saw a surge in trading volume, becoming the fourth-most traded product across all ETFs, with $1.2 billion in trades during the first hour of the session.
It was also a strong day for meme coins, as Pepe and Bonk were both listed on Coinbase, fueling substantial demand and pushing their prices up by 30-50%. Additionally, Pnut, a new meme coin listed on Binance, saw an impressive 250%+ price jump in just one day.
Overall, Bitcoin dominance reached a season-high, which had a notable impact on altcoins. Many alts struggled, showing either sharp declines or minimal upward movement, as BTC continued to assert its dominance in the market.
