These Are the Best-Performing Altcoins as Bitcoin (BTC) Jumps to 12-Day Peak (Market Watch)

After last week’s massacre that took bitcoin to a multi-month low, the asset’s recovery attempts continue in full force as it jumped above $65,000 for the first time since 24 ‘April.

Several altcoins have produced even more impressive gains over the past day, with TON, SOL and AVAX standing out from the biggest caps.

BTC crosses $65,000

It was less than a week ago, at the beginning of May, that the major cryptocurrency took off and fell to a two-month low of $56,500. This came amid growing ETF outflows and fears about what the US Fed might do during its FOMC meeting.

The central bank’s decision not to change from its current monetary policy led to immediate volatility, but it wasn’t until last Friday that BTC regained some ground and jumped to just under $60,000.

Another stage followed later that day and over the weekend that took bitcoin to $64,000. It was a little bumpy there this morning, but bulls stepped up the pedal and pushed the cryptocurrency to a 12-day high of nearly $65,500.

That means its market capitalization has approached $1.3 trillion, while its dominance of the highs stands at 50.5%.

Bitcoin/Price/Chart. 05/06/2024. Source: TradingView Alts in Green

While BTC has maintained its dominance over the highs, many of them have outperformed the largest cryptocurrency. The most notable examples of higher-cap alternatives come from SOL (6%), TON (9%) and AVAX (7%).

Ethereum is up 3% and has crossed $3,200, while BNB has taken advantage of $600 after a similar rise. XRP, DOGE, ADA, SHIB, and BCH are also in the green of the larger cap highs.

Even more impressive gains come from products like LINK, NEAR, MATIC, HBAR, IXP, APT, RNDR and others.

The total crypto market cap has soared to $2.55 trillion on CG, which means it’s up almost $100 billion since yesterday.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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