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Bitcoin’s price was stopped ahead of $63,000 but has managed to defend the $60,000 level after an immediate retracement.
The altcoins are quite sluggish on a daily scale, with $XRP, ETH, and SOL in the red, while $TON has risen by more than 4%.
$BTC Dominance on the Rise
Last weekend was quite painful for the primary cryptocurrency. It continued the massive correction that started on Friday and slumped from $66,000 to just under $60,000 by Sunday morning. The landscape worsened later on Sunday with a drop to $57,000. However, the worst came on Monday with another leg down to just under $50,000, which became its lowest price level in about six months.
The bulls finally stepped up at this point and didn’t allow any further declines. $BTC started to regain traction and jumped to $53,000 on Tuesday and $57,000 by Thursday. Another leg up followed on Friday that pushed the cryptocurrency to almost $63,000.
Nevertheless, bitcoin failed to continue its run and has lost some momentum since then. In fact, it slipped toward $60,000 but has managed to defend that level and trades about $700 above it now.
Its market cap has declined slightly to $1.2 trillion, but its dominance over the alts keeps rising. The metric is now at 54% on CoinGecko, the highest since April 2021.
$TON Rises, $XRP Declines
Most of the larger-cap alts posted minor retracements today. Ethereum is down by more than 1% in the past 24 hours but still stands above $2,600. Solana and Ripple have declined by 2-3% to $155 and $0.58, respectively.
DOGE, AVAX, SHIB, and ADA are also slightly in the red. In contrast, $TON is up by more than 4% and trades above $6.7. CRO is the biggest gainer from the mid-cap alts, having surged by over 9%.
The total crypto market cap has retraced slightly in the past day and is now at $2.217 trillion on CG.
