Bitcoin gains modestly as altcoins slip and market volume cools

Bitcoin rose about 0.6% to $64,925 while Ethereum climbed 2.5% to $1,922, but most large‑cap altcoins posted small declines. Total crypto market capitalization hovered around $2.23 trillion and 24‑hour spot trading volume fell to $69.15 billion, indicating a cautious market stance.

Memecoins faced intense selling pressure, with a $1.2 billion buy‑sell order imbalance on Binance and their share of market cap dropping to a multi‑year low of 3.7%. Analysts note that the memecoin rally, once driven by hype, is fading as investors shift toward more substantive projects.

Technical analysis suggests further upside for Bitcoin. An Elliott Wave outlook projects a short‑term target between $68,200 and $72,700, while a reversal pattern on weekly charts points to a potential move toward $73,500 if resistance at $70,000 is cleared.

The XRP/BTC pair has been consolidating for ten weeks around the 0.000015 level, with rising bullish sentiment and on‑chain activity, including a 6% increase in stablecoin supply flowing into the XRPL network.

Other market developments include Empery Digital selling roughly half of its Bitcoin treasury, Webull Europe obtaining MiCA authorization to operate in the EU, Metaplanet launching a regulated securities subsidiary in Japan, and Bolivia considering the official recognition of USDT as a currency.