Markets
WIF and TON Explode in Double Digits as BTC Hits $63K Amid Small ETF Outflows (Market Watch)
Bitcoin price volatility has increased in recent hours as the asset briefly rose to $64,000 but has been halted and reduced to $63,000 now.
RNDR continues its price climb with another impressive daily increase that took it above $11. Most other alts are also in the green now.
BTC rises to $63K
The ongoing trading week has been much less eventful than the previous one, in which BTC fell to a two-month low of $56,500. Its recovery began last Friday and especially over the weekend, with the asset soaring to almost $64,000 on Sunday.
It failed to surpass that level early on, but bounced above it and hit a 12-day high of $65,500 on Monday. However, it was unable to maintain its operation and started to lose value in the following days.
This culminated in a price drop to $60,600 yesterday. At this point, however, the bulls stepped up and did not allow a break below $60,000. In fact, bitcoin began to regain strength and jumped to nearly $64,000 early this morning despite small outflows from US-based spot ETFs.
As of now, BTC has lost about a thousand dollars and is close to $63,000. Its market cap is $1.240 trillion, while its dominance over alts is 50.6% in CG.
Bitcoin/Price/Chart 10.05.2024. Source: TradingView
WIF, TON, SUN rising
Toncoin was among the worst performers a few weeks ago, despite the network’s adoption by the world’s largest stablecoin – USDT. However, the asset has reversed its trajectory in recent days and is now close to $7 after a daily increase of 13%.
The popular meme coin – WIF – is another double-digit gainer from larger-cap alts. A 10% increase pushed it to almost $3.2. IMX (10%), SOL (7.4%), KAS (8.7%) and RNDR (6%) follow suit.
ETH has reclaimed the $3,000 level after a 2% rise, while BNB is slightly in the red and just inches below $600.
The total crypto market value gained around $50 billion in one day and is close to $2.450 trillion now.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.