Markets
Bitcoin (BTC) Hits $69K, Binance Coin (BNB) Hits 3-Month High (Market Watch)
Bitcoin had a quiet weekend with little to no real movement, but Monday started off on a high note, with the asset jumping to $69,000 for the first time this month.
Altcoins are also slightly green. BNB stands out with a 5% increase now, but the asset rose even more early in the morning.
Bitcoin’s struggle with $69,000
Last Monday was also quite positive for the primary cryptocurrency, which went from under $69,000 to a weekly high of over $70,500. However, BTC was unable to maintain the run and began to lose value towards the end of the day, particularly on Tuesday. The pullback culminated in a price drop to $67,200.
Rougher waters followed, with the most substantial increase on Thursday to $69,500. However, bitcoin was stopped there and was later pushed south to a weekly low of $66,600.
After an immediate rally that saw BTC jump to $67,500, the asset calmed there over the weekend and was unable to make any major moves. However, this trading week started on a familiar note and bitcoin jumped to just over $69,000.
Its market capitalization has increased to $1.360 billion, while its dominance over alts has gained 0.3% since yesterday and is now at 50.2%.
Bitcoin/Price/Chart 03.06.2024. Source: TradingView
BNB Local Spike
Most altcoins also followed BTC’s rise with smaller gains. Ethereum reclaimed the $3,800 level after a 1.1% increase. Similar price jumps are evident in SOL, XRP, DOGE, TON, ADA, SHIB, AVAX and more.
Binance Coin is the best performer among large-cap alts, having risen 5% to $630. Previously, BNB reached $640 for the first time in nearly three months.
More gains come from companies like PEPE, KAS and WIF, while NEAR, LIINK and UNI are slightly in the red.
The cumulative market capitalization of all crypto assets gained around $40 billion overnight and stands at just over $2.7 trillion in CG.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.