Bitcoin Price Steadies at $61,000 as Meme Coins Trend (Weekend Watch)

The cryptocurrency market saw a relatively calm 24 hours with the majority of coins failing to show any notable gains. The opposite is also true for altcoins, with most of them trading in a balanced state.

This can often be a sign of a bigger move in either direction, but let’s take a closer look at the price action over the past day.

Bitcoin Price Stabilizes at $61,000

Yesterday, the price of BTC was hovering around the $60,000 mark but the bulls managed to gain a foothold and push the price above the $61,000 mark and is currently trading at around the $61,400 mark.

This resulted in Bitcoin posting a one-day gain of around 0.8%, with trading volumes still low but well within expected range for the weekend.

Bitcoin’s dominance (a metric that measures its share compared to the rest of the market) currently sits at 50.8%, with ETH making up around 17% of the total market.

Altcoins calm down, some meme coins trend

Most of the major altcoins have been trading more or less sideways over the past 24 hours, with TON recording a rise of around 2%, buoyed by a significant increase in the total value locked in the protocol.

Elsewhere, and perhaps a bit more interestingly, cat-themed meme coins surged today, with the category increasing by more than 6%, according to data from CoinGecko.

Additionally, these particular meme coins have increased by a whopping 43% over the past week, with some notable ones including Mog Coin (MOG) and Popcat (POPCAT).

Overall, the market remains neutral, with sentiment improving significantly since yesterday, according to the popular “Crypto Fear and Greed Index.”