BTC returns to $58,000 after failing to challenge $60,000, STX up 14% daily (Market Watch)

Bitcoin’s rise to $60,000 was halted, and the asset has returned to just above $58,000 after a minor pullback in the last day.

Stacks has emerged as the best performer among the larger-cap alternatives, having risen 14%. LDO is next, up 7% daily.

BTC stopped at $59,000

It was less than a week ago, on July 5, that the major cryptocurrency fell hard to a multi-month low of just under $54,000. This came after increased pressure from the distribution of Mt. Gox BTC and that the German government often sold part of its confiscated deposit.

Bulls intercepted the move at that point and started a rally that took bitcoin to just over $58,000 a few days later. Another pullback occurred before the asset bounced back yesterday.

This resulted in a multi-day high of $59,500. As the moose prepared for a $60,000 charge, the bears rallied and did not allow further gains.

Just the opposite, BTC went through roughly two thousand in hours. On a daily basis, BTC is slightly in the green, although it is trading just inches above $58,000.

Its market cap has dipped below $1.150 trillion, while its dominance of the highs stands at 50.9% in CG.

Bitcoin/Price/Chart 11.07.2024. Source: TradingView STX Rises

Altcoins are quite slow on a daily basis. Ethereum and Binance Coin are slightly in the red, trading at $3,120 and $528, respectively. SOL and DOGE are down a little over 1% to $142 and $0.11.

Chainlink has lost the most value of the large-cap highs (-3.7%) and is below $13. In contrast, AVAX has jumped more (3%) and is trading above $25.

Stacks emerged as the best player today. The asset has soared 14% in a day and is trading near $1.7. LDO follows suit, with a 7% jump.

The total crypto market cap is slightly in the red, currently sitting at $2.250 trillion in CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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