- Bitcoin trades above $55k after a sharp sell-off that saw it break below $50k.
- Brett (BRETT) meme coin is leading top gainers among the top 100 coins by market cap.
- Poodlana has surpassed $5 million in presale with 10 days to go before it lists on DEX.
Several altcoins are green as the price of Bitcoin rebounds from the lows reached on Monday amid the staggering sell-off that engulfed crypto and stocks.
As Bitcoin (BTC) price looks to extend its bounce above $55k, meme coin Brett (BRETT) is leading the altcoin flip with over 30% gains in 24 hours. Meanwhile, traders eyeing the new Solana-based meme coin Poodlana (POODL) have increased the presale tempo as the project surpasses the $5 million mark.
Bitcoin trades above $55k as market eyes recovery
Matt Hougan, the chief investment officer of Bitwise, is bullish despite the crypto crash.
He in a post on X on Monday that the meltdown that eviscerated the crypto market on Aug. 5, 2024 was comparable to the crash that hit global capital markets in mid-March 2020.
As happened then, Bitcoin led cryptocurrencies lower amid the chaotic reaction to the Covid pandemic. But the market bounced, and Hougan believes the current downturn could offer such an opportunity.
8/ But March 12, 2020 wasn’t time to panic. It was the best buying opportunity for bitcoin in a decade.
— Matt Hougan (@Matt_Hougan) August 5, 2024
Bitcoin has recovered some of the losses seen when it dropped to below $50k, and could benefit from an explosive bounce if the declines represented a fresh bottom.
BRETT leads market gainers with 30% spike in 24 hours
The crypto market has returned to above $2 trillion in market cap as several altcoins post notable gains in the past 24 hours. Although Ethereum (ETH), Solana (SOL) and BNB (BNB) have registered decent gains during the early Asian hours, the biggest gainer at the time of writing is Base meme coin Brett (BRETT).
According to CoinMarketCap data, BRETT has seen a 33% jump in its price to reach a 24-high of $0.094. Brett’s trading volume has increased 5% to over $93.8 million. While BRETT is outpacing Bittensor (TAO), AIOZ Network (AIOZ), Ondo Finance (ONDO), and Akash Network (AKT) at the time of writing, its price remains in the red over the past week and month.
BRETT price is down 31% over the past week, while its losses over the past month are around 23%.