After slipping hard yesterday, bitcoin went on the offensive in the past 12 hours or so and exploded to a weekly high of just under $62,000.
Aside from TRX and TON, the other larger-cap altcoins have followed suit with impressive gains from the likes of LINK, UNI, MATIC, and others.
BTC Eyes $62K?
It was roughly a week ago when the primary cryptocurrency dumped hard and fell from $59,600 to $56,300. However, the bulls stepped up at this point and didn’t allow any further breakdowns. Instead, BTC headed north and spent the weekend trading sideways at just shy of $60,000.
The new business week began with another retracement that drove bitcoin south to $58,000. Yet, the cryptocurrency didn’t stay there long and shot up to over $61,000 on Tuesday.
The scenario repeated once again on Wednesday as the asset fell back down to under $59,000. More of the same followed, and bitcoin jumped to and beyond $60,000 late last night amid rumors that RFK will drop out of the US election race, which could favor pro-crypto candidate Donald Trump.
BTC peaked at $61,800, which became a weekly high, before retracing to around $61,000 as of now. Its market cap is just over $1.2 trillion, while its dominance over the alts has increased slightly to 53.6% on CG.
LINK, UNI, MATIC on the Rise
Most altcoins have turned green today. ETH has neared $2,650 after a minor 2% increase. XRP, SOL, AVAX, DOGE, and DOT have also charted similar gains.
BNB, ADA, SHIB, and BCH have posted more impressive increases of around 3-4%. However, the biggest gainers on a daily scale include LINK (10%), UNI (7.5%), and MATIC (11%). Polygon’s native token has soared past $0.5 as a result.
The most notable price performers from the top 100 alts are FTM (15%), BTT (14%), BEAM (14%), and RENDER (12%).
The total crypto market cap has recovered over $50 billion since yesterday and is up to $2.250 trillion.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.