Bitcoin rises, holds moving average as major altcoins lag

Bitcoin rose about 2.4% to trade near $62,800 as its market dominance climbed to 59%, up from last week’s low of 57.9%. The CoinDesk 20 Index added 2.3% and the memecoin index led gains with a 2.7% rise. Bitcoin has held its 200-week moving average while other large tokens such as XRP, ether and solana sit below that key technical line, underscoring renewed capital flow into the largest cryptocurrency and growing bearish momentum in major altcoins.

Smaller tokens posted dramatic moves: Audiera’s BEAT jumped another 57% on the day, taking its seven-day gain to over 500% as onchain activity, token burns and wallet participation increased, though some social media users warned of concentrated ownership and pump-and-dump risk.

Velvet’s VELVET has surged roughly 800% in 30 days, more than doubling in 24 hours, riding demand in pre-IPO perpetual futures and synthetic contracts.

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