Bitcoin Price Shoots Up Toward $63K, Shiba Inu Gains 6% Daily (Market Watch)

Bitcoin’s price stood still over the weekend at around $61,000 with only a few minor fluctuations, but the asset suddenly jumped on Monday morning to a multi-day peak of almost $63,000.

The altcoins have also turned green after the weekend stagnation, with TON and SHIB leading the pack.

BTC Heads for $63K

It was last Monday when the primary cryptocurrency jumped to a 12-day peak of $65,500 but was quickly stopped at this point as the bears resumed control of the market. In the following days, the asset saw its price decline by several thousand dollars to $60,800 by Thursday.

After another false breakout attempt on Friday to $64,000, BTC dumped once more, this time to just over $60,000. The bulls intercepted the drop and initiated a minor recovery during the weekend that resulted in bitcoin standing still at around $61,000.

BTC tried its hand at taking down $62,000 yesterday but was halted in its tracks. The rejection pushed it down to $60,800 earlier today. However, the cryptocurrency went on a roll in the past hour or so and soared by over two grand. As of now, BTC trades inches away from $63,000, and its market cap has neared $1.250 trillion.

Its dominance over the alts has increased slightly to just over 51% on CG.

Bitcoin/Price/Chart 13.05.2024. Source: TradingView

TON, SHIB Lead the Way

Most larger-cap alts are yet to follow BTC on the way up but are still with some minor gains. ETH, for instance, has failed to overcome the $3,000 level despite a 2% daily increase. BNB is close to $600 after climbing by 1% in the past day.

In contrast, Toncoin and Shiba Inu’s largest native token has jumped by around 5-6%. TON has tapped $7.3, while SHIB has neared $0.000024. Dogecoin and Floki are up by 3% each, while PENDLE, IMX, and RBN have declined the most.

The total crypto market cap has gained around $40 billion since yesterday and stands above $2.420 trillion on CG.