As an experienced analyst, I’ve seen the ups and downs of the cryptocurrency market numerous times. Bitcoin’s (BTC) price stability over the weekend was a welcome sight after the volatile swings we’ve witnessed in recent days. However, the sudden surge to $63,000 on Monday morning came as a surprise.
As a crypto investor, I observed Bitcoin‘s price remaining relatively stable over the weekend, hovering around the $61,000 mark with minimal movement. However, my attention was piqued when Bitcoin unexpectedly surged during Monday morning trading, reaching a multi-day high of nearly $63,000.
After a stagnant weekend, many altcoins have regained some momentum and are now displaying green figures on the charts. Notably, TON and SHIB are currently taking the lead in this upturn.
BTC Heads for $63K
Last Monday saw the leading cryptocurrency reach a 12-day high of $65,500 before being halted in its tracks. The bears regained control of the market and caused the asset’s price to drop, resulting in a decline to $60,800 by Thursday.
As a crypto investor, I’ve witnessed yet another unsuccessful breakout attempt by Bitcoin to reach $64,000 on Friday. Following this failed attempt, Bitcoin took a dive and dipped below the $61,000 mark, settling around $60,000. However, the bulls managed to intervene during the weekend, launching a minor recovery that kept Bitcoin relatively stable at roughly $61,000.
Yesterday, BTC made an attempt to break through the $62,000 mark but was unable to do so, resulting in a pullback to around $60,800. However, within the past hour or so, the cryptocurrency has surged more than $2,000 and is currently hovering just below the $63,000 threshold. At present, BTC’s market value sits close to $1.25 trillion.
Its dominance over the alts has increased slightly to just over 51% on CG.
TON, SHIB Lead the Way
As a crypto investor, I’ve noticed that larger-alt coins like Ethereum (ETH) and Binance Coin (BNB) haven’t matched Bitcoin’s (BTC) upward trend just yet. ETH, for example, hasn’t been able to break through the $3,000 mark, despite a daily increase of 2%. BNB is inching closer to $600 following a 1% gain the previous day.
Instead of “In contrast,” you could say “On the other hand,” or “However.”
The cryptocurrency market’s overall value has increased by approximately $40 billion within the past day, reaching a new high of over $2.42 trillion according to CoinMarketCap.
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2024-05-13 12:04