Bitcoin and altcoins experience price volatility, Uniswap and PEPE surge

According to CryptoPotato, the price of Bitcoin has shown significant volatility in recent days, falling below $66,500 before rising above $69,000. Altcoins also saw modest gains, with Uniswap (UNI) jumping 20% ​​to be worth over $10. Another altcoin, PEPE, hit a new all-time high.

The U.S. Securities and Exchange Commission approved eight Ethereum spot ETFs on Thursday, a major development in the cryptocurrency industry this week that mainly affects Ethereum (ETH). The news, combined with the surrounding hype, triggered a huge surge in ETH, rising from $3,100 on Monday to over $3,900 mid-week before easing back slightly to its current level of $3,750.

Several other altcoins have also seen significant gains this week, with PEPE gaining another 12% over the past day to hit a new all-time high of $0.00001538. Uniswap’s native token UNI has also seen significant gains, surging 20% ​​and now trading near $11. Other altcoins like XRP, DOGE, TON, SHIB, DOT, IMX, and NEAR also saw gains.

The total cryptocurrency market capitalization has climbed back over $60 billion since yesterday and now stands close to $2.7 trillion. Bitcoin’s price was also affected by the Ethereum ETF news, rising from $67,000 to a multi-week high of $72,000 on Monday and Tuesday before falling back in the following days. The most significant price drop occurred on Thursday, with BTC falling below $66,500 just hours before the SEC announced its decision. However, the asset rebounded, experienced further volatility, and started rising again last night, reaching just over $69,200. Currently, Bitcoin trades at just under $69,000, with a market cap of $1.350 trillion, accounting for 50.2% of altcoins.