Bitcoin’s recent nosedives continued in the past 24 hours as the asset slipped below $60,000 on a couple of occasions but has managed to recover more than a grand and a half since then.
The altcoins are also slightly in the green today following the recent retracements, with DOGE, SHIB, and LINK emerging as the top gainers from the larger caps.
BTC Bounces Above $61K
It hasn’t been a good week for the primary cryptocurrency so far, and there are signs that today will be another volatile day. The asset stood above $66,000 on Sunday but began to lose value quickly in the following days.
It dropped to $63,000 on Monday, jumped to $64,000 but was pushed south to $62,000 on Tuesday, and kept declining on Wednesday and Thursday. This culminated in dipping beneath $60,000 a few times to mark a three-week low.
However, the bulls managed to intervene after the most recent such correction and defended that coveted level. Moreover, BTC has jumped by over $1,500 since then and now stands at around $61,500.
Its market capitalization has increased by over $20 billion since yesterday and is close to $1.220 trillion on CG. Its dominance over the alts has lost some ground, though, and is down to 54.4% on CG.
Bitcoin/Price/Chart 04.10.2024. Source: TradingView
Alts in Recovery Mode
Most altcoins followed BTC on the way south, and some charted even more painful declines. However, they have managed to halt the freefalls and are actually in the green on a daily scale now.
Following 1-2% increases, ETH has neared $2,400 while BNB has tapped $550. Solana, Ripple, Tron, and Bitcoin Cash have charted similar gains overnight.
More impressive price jumps come from the likes of Dogecoin, Shiba Inu, Chainlink, Cardano, Avalanche, and others. Aptos has soared by 10% daily to almost $9, followed by BEAM (9.5%), and AAVE (9.5%).
The total crypto market cap is up by around $40 billion in a day and has increased to $2.240 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
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