After a period of relative inactivity over the weekend, with Bitcoin’s price hovering around $61,000 and experiencing minimal fluctuations, the beginning of this week brought a surprising turn of events. On Monday morning, the leading cryptocurrency caught the market off guard by reaching a peak of nearly $63,250, marking one of the highest points in several days. As of now, the price of BTC stands at $62,708.21, showing a 3% increase in the last 24 hours.
Meanwhile, the altcoin market demonstrated signs of recovery following a similar period of calm. Notably, TON, PEPE Coin, and SHIBA INU stood out with significant percentage gains.
Looking back at recent price history, last Monday witnessed Bitcoin experiencing a significant surge to $65,500. However, this advance was swiftly met with firm resistance, leading to a correction that caused the cryptocurrency’s value to drop to $60,800 by Thursday. Despite a recovery attempt on Friday to reach $64,000, Bitcoin once again retreated, this time to just above $60,000. However, the bulls persisted and initiated a slight recovery over the weekend, stabilizing the price around $61,000.
In an effort to surpass the $62,000 barrier yesterday, Bitcoin encountered resistance but remained undeterred. Today, after a rapid increase, the cryptocurrency is already trading close to $63,500, with its market value nearing $1.25 trillion.
Among the large-cap altcoins, most experienced modest gains. For instance, Ethereum, despite a 2% increase for the day, continues to struggle to surpass the $3,000 level. Binance Coin also approached $600 after a 1% increase the previous day.
However, the stars of the day were undoubtedly Toncoin, PEPE, and Shiba Inu, all recording gains ranging from 5% to 8%. Toncoin reached the $7.30 mark, while PEPE coin rose to $0.00000940 with an 8% increase, and Shiba Inu approached $0.000024. Other cryptocurrencies such as Dogecoin and Floki also performed well, both experiencing a roughly 3% increase.
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Editor’s Choice: Bitcoin Price Drops to Nearly $60,000 and Is Poised to End the Week on a Low Note. Bitcoin Struggles to Recover After Drop, Remaining Below $62,000.
