Bitcoin Slips 2% as Crypto Rally Cools; Meme Coins Outperform While Chainlink and Adventure Gold Drop

Bitcoin (BTC) slipped 2% to around $34,000 as crypto markets cooled off after rallying earlier this week.

Meme coins Dogecoin (DOGE) and PepeCash (PEPE) outperformed the broader market, while Chainlink (LINK) and Adventure Gold (AGLD) dropped.

Bitcoin is in its fifth bull market driven by institutional adoption as a safe haven asset, and could reach $125,000 by end of 2024, per Matrixport.

Equity markets extended losses, dragged down by disappointing earnings reports from tech giants.

Despite pullbacks, Bitcoin remains in a bull market fueled by institutional adoption, according to analysts.