These Meme Coins Explode as Bitcoin Price Eyes $120K Again: Market Watch
2025-07-21 09:20:18
Main Idea
Bitcoin's price showed subdued volatility over the weekend but is nearing $120K, while meme coins like Pudgy Penguins and TRUMP saw significant gains.
Key Points
1. Bitcoin's price traded within a narrow range around $118K over the weekend but is now inching closer to $120K.
2. The total cryptocurrency market capitalization remains above $4 trillion.
3. Bitcoin briefly dropped to an intraday low of slightly above $116K before recovering to around $119,600.
4. Derivatives markets saw around $400 million in liquidations, with $221M from short positions.
5. Meme coins like Pudgy Penguins (PENGU) and TRUMP surged by 25% and up to 10%, respectively, in the past 24 hours.
6. Key economic events this week include Jerome Powell's speech and June's existing home sales data, which may impact market volatility.
Description
Bitcoin’s price saw subdued volatility throughout the weekend, trading within a relatively narrow range around $118K. The past 24 hours, however, have brought up a hint of revival with BTC inching closer to $120,000. The total cryptocurrency market capitalization hovers above $4 trillion and some sectors are seeing notable gains. There’s also some interesting economic data coming up in the following days, which may stir the pot and cause greater volatility. Bitcoin Bulls Want to Reclaim $120K Bi...
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