The cryptocurrency market awoke to the sight of Dogecoin (DOGE) price surging to as high as $0.69 in the past two days, leading many to wonder if the recent performance of the world’s most popular meme token is now the leading indicator for the arrival of alt season.
Long-time crypto fans mark the fourth of May as a special day for the Bitcoin community as a whole for being the birthday of one of the earliest known supporters of the Bitcoin network Hal Finney, who would have celebrated turning 65.
Data from Cointelegraph Markets and Tradingview shows that while the world’s attention was focused on Dogecoin, Bitcoin (BTC) faced selling pressures, which began the night before and dropped the price of BTC back below the $55,000 support level by mid-day on Tuesday.
BTC/USDT 4-hour chart. Source: TradingView