Bitcoin (BTC) continues its price recovery, coming close to reaching $60,000 once again after a brief dip. However, it failed to surpass this mark. Meanwhile, altcoins are also showing slight gains, with Ethereum (ETH) approaching $3,000 and Solana (SOL) nearing $140.
BTC initially started on a positive note, reaching nearly $65,000 during the early trading session in Asia. However, bears took control, causing the first of several declines. Within hours, BTC fell below $62,000 and later dropped to $60,000. The pressure continued, leading to a significant plunge that brought the cryptocurrency to a multi-month low of $56,500.
Following the US Federal Open Market Committee (FOMC) meeting, BTC briefly climbed by $2,000 as the Federal Reserve announced no further interest rate increases. However, these gains were short-lived. It was only yesterday that BTC began to regain momentum, pushing its price to $60,000. However, it was unable to break through and currently sits around $59,200. BTC’s market cap has reached $1.166 trillion, with its dominance over altcoins slightly above 50%.
Among altcoins, Toncoin (TON) has showcased remarkable performance, soaring by almost 12% in the past 24 hours to stand above $5.3. Other altcoins such as HBAR, IMX, PEPE, TAO, and CRO have also seen impressive increases. Ethereum is trading close to $3,300, experiencing a 1.5% daily gain. Solana has surged by 3.7% and is nearing $140, while Dogecoin (DOGE) has gained 4% and is above $0.13.
The overall cryptocurrency market cap has seen a recovery of $40 billion since yesterday, reaching $2.330 trillion.