Bitcoin (BTC) Price Hits $60,000, Toncoin (TON) Up 12% Daily (Market Watch)

Bitcoin price recovery attempts continued in the last 24 hours as the asset approached $60,000 for the first time in days, but failed to break above that line.

Altcoins are also slightly in the green, with ETH closing at $3,000, while SOL has approached $140.

BTC costs $60,000

The main cryptocurrency experienced several rather brutal days in which its price dropped by more than eight thousand. It all got off to a pretty positive start as BTC soared to nearly $65,000 during the early trading days of the Asian morning session.

However, the bears intercepted the move at this point and prompted the first decline of many. Within hours, bitcoin found itself below $62,000 and up to $60,000 later that day.

The pressure continued to rise and BTC lost this level of physiological support. This culminated in another massive drop that took the cryptocurrency to a multi-month low of $56,500 on Wednesday morning, ahead of the highly anticipated US FOMC meeting.

Once concluded, BTC jumped two thousand as the Fed said it will not raise interest rates any further, but lost those gains immediately. It wasn’t until yesterday that the asset finally started to regain some traction and hit $60,000 hours ago.

It stopped there and went down to about $59,200 so far. Its market cap has risen to $1.166 trillion in CG, and its dominance of the highs is slightly above 50%.

Bitcoin/Price/Chart 05/03/2024. Source: TradingView TON steals the show

Most altcoins also suffered badly at the start of the trading week, but posted impressive gains yesterday. Some, like Toncoin, have doubled. TON has shot up almost 12% in the last 24 hours and is now above $5.3.

HBAR, IMX, PEPE, TAO and CRO have also produced impressive gains over the past day.

Ethereum nears $3,300 after a 1.5% daily gain, SOL nears $140 after a 3.7% rise, and DOGE is up $0.13 after to earn 4%.

The total crypto market capitalization has recovered another $40 billion since yesterday to reach $2.33 trillion in CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored) LIMITED OFFER 2024 for CryptoPotato readers on Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!

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