Bitcoin BTC Reclaims $72K; Meme Coins Rally

Blockonomics
Lyllah Ledesma
Bitbuy

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U.S. crypto-related stocks looked set to start the week on a positive note after bitcoin (BTC) climbed through $72,000 for the first time since mid-March as its reward halving draws closer. Coinbase (COIN), the only U.S. traded crypto exchange, gained 4.9% in pre-market trading, MicroStrategy (MSTR), the largest corporate holder of bitcoin, rose 10% and BlackRock’s bitcoin exchange-traded fund (IBIT), added around 6.5%. Bitcoin advanced 4.4% over 24 hours while the CoinDesk 20 Index, a measure of the broader crypto market, rose 4.1%. Other tokens rising on Monday included meme coins dogwifhat, which gained 18%, and pepe, which rose 10%. According to trader Michaël van de Poppe, there is still a lot of momentum to be gained for altcoins as bitcoin dominance continues to peak pre-halving. “They [altcoins] are super undervalued,” van de Poppe said in a post on X.

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