Bitcoin has been on a wild ride recently, briefly climbing towards $63,000 before pulling back. Despite this rollercoaster, Bitcoin has managed to stay above the $60,000 mark, driving its dominance to a three-year high.
Bitcoin’s Recent Rollercoaster
Last weekend, Bitcoin took a significant hit, falling from about $66,000 to under $60,000 by Sunday. The situation worsened with a drop to $57,000 and then below $50,000 by Monday, marking its lowest point in six months. But the bulls stepped in, and Bitcoin bounced back to $53,000 by Tuesday, $57,000 by Thursday, and almost $63,000 by Friday.
While Bitcoin’s price has since settled around $60,700, it has managed to hold this level. This stability has slightly reduced its market cap to $1.2 trillion, but Bitcoin’s dominance has surged to 54%, its highest level since April 2021.
Altcoin Performance and Toncoin’s Gains
Meanwhile, many major altcoins have been struggling. Ethereum has dropped over 1% but remains above $2,600. Solana and Ripple have both seen declines of 2-3%, trading at $155 and $0.58, respectively. Other coins like DOGE, AVAX, SHIB, and ADA have also experienced minor losses.
In a brighter spot, Toncoin (TON) has seen a significant rise, climbing over 4% and trading above $6.70. Among mid-cap cryptocurrencies, CRO has stood out with a notable gain of over 9%. Overall, the total crypto market cap has pulled back slightly to $2.217 trillion.
As Bitcoin solidifies its dominance and altcoins show mixed results, the cryptocurrency market remains dynamic and closely watched by investors.
