Bitcoin (BTC) Price Hits $59,000, Dogwifhat (WIF) Soars 12% Daily (Market Watch)

After several days of sideways trading and mostly losing value, BTC price went on the offensive over the last 12 hours or so and even approached $60,000.

Altcoins are also slightly in the green today, with more impressive gains coming from BNB, SOL, XRP and DOGE.

BTC hits $59,000

Last week did not go well for the major cryptocurrency, although it started quite positively, with a rise to just over $65,100. However, the bears came out of the forest and did not allow further increases.

On the contrary, bitcoin began to lose ground quickly and had dropped to $58,000 on Wednesday. After another unsuccessful breakout that stopped at $61,000, the asset bounced back further. This culminated in a price drop below $57,200 recorded yesterday, which became its lowest level in about two weeks. Perhaps the most likely reason behind these declines was the exits from local Bitcoin ETFs.

The bulls finally surged at this point. They initiated a breakthrough that pushed the cryptocurrency to just under $60,000 today. However, he failed to break that level and the subsequent rejection has taken him south for a million.

Its market cap has risen slightly to $1.160 trillion, but its dominance of the highs has dropped to 53.9% at CG.

Bitcoin/Price/Chart 09/03/2024. Source: TradingView WIF in the Zone

Most altcoins have posted some gains in the last 24 hours after recent declines. ETH has risen above $2,500 after a 1.5% daily gain, while BNB is the best performer from the biggest highs. Binance Coin has soared 4.5% and is now trading near $535.

SOL, XRP, and DOGE are also up more than 2%, while TRX is among the few higher-cap alternatives in the red.

SUI soared 6% to $0.8, but even more impressive gains came from OM, WIF and FLOW. All of them posted double-digit increases, with OM and WIF increasing by 12%.

The total crypto market capitalization has recovered about $50 billion daily and stands at $2.16 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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