Bitcoin’s brief venture above $60,000 ended as the asset fell below that threshold yesterday and has stayed there since. Most altcoins have mirrored BTC’s trend, experiencing daily declines. However, TRX has surged to over $0.16.
BTC Below $60K Again
After last Thursday’s significant correction, which brought bitcoin to a multi-day low of $56,200, the cryptocurrency mostly gained value. It traded sideways over the weekend within the $59,000 and $60,000 range. Monday saw another dip as BTC fell to $58,000. Bulls quickly intervened, driving bitcoin up by over three thousand dollars to a 6-day high of more than $61,400. Despite this, BTC could not sustain its momentum and dropped below $59,000, partly due to reports of Mt Gox initiating additional BTC transfers. Currently, bitcoin remains 2% down for the day, struggling beneath $60,000. Its market capitalization has decreased to $1.175 trillion, and its dominance over altcoins has slightly dropped to 53.5%.
TRX on the Run
Most altcoins have mirrored BTC’s downturn. Ethereum has decreased by 2.5% and is now just below $2,600. SOL and XRP have similarly dropped, while TON, BNB, DOGE, and BCH are also in the red on a daily scale. Contrarily, Tron’s native token, TRX, has surged by 12% over the past 24 hours, reaching above $0.16. AVAX, ADA, and MATIC have also posted notable gains. Overall, the total crypto market cap has lost about $40 billion overnight, falling to $2.2 trillion.
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