Bitcoin (BTC) Price Eyes $60K, Toncoin (TON) Soars 12% Daily (Market Watch)

Bitcoin’s price recovery attempts continued in the past 24 hours as the asset neared $60,000 for the first time in days but failed to overcome that line.

The altcoins are also slightly in the green, with ETH closing down on $3,000, while SOL has neared $140.

BTC Goes for $60K

The primary cryptocurrency experienced several quite brutal days in which its price dropped by more than eight grand. It all started quite positively actually as BTC soared to nearly $65,000 during the early trading days of the Morning Asian session.

However, the bears intercepted the move at this point and propelled the first decline of many. In a matter of hours, bitcoin found itself dumping to under $62,000 and to $60,000 later that day.

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

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

It was stopped there and was pushed down to about $59,200 as of now. Its market cap has increased to $1.166 trillion on CG, and its dominance over the alts is slightly above 50%.

Bitcoin/Price/Chart 03.05.2024. Source: TradingView

TON Steals the Show

Most altcoins suffered quite badly as well at the start of the business week but charted impressive gains yesterday. Some, such as Toncoin, have doubled down. TON has soared by nearly 12% in the past 24 hours again and now sits above $5.3.

HBAR, IMX, PEPE, TAO, and CRO have also produced impressive increases in the past day.

Ethereum is close to $3,300 after a 1.5% daily increase, SOL has neared $140 following a 3.7% surge, and DOGE is above $0.13 after gaining 4%.

The total crypto market cap has recovered another $40 billion since yesterday and is up to $2.330 trillion on CG.