Bitcoin (BTC) Price Heads Towards $62,000, Polygon (MATIC) Up 12% Daily (Market Watch)

After falling sharply yesterday, bitcoin went on the offensive over the past 12 hours and exploded to a weekly high of just under $62,000.

Aside from TRX and TON, the other larger cap altcoins have followed suit with impressive gains such as LINK, UNI, MATIC and others.

BTC Eyes $62,000?

It was about a week ago that the major cryptocurrency poured heavily, falling from $59,600 to $56,300. However, the bulls rose at this point and did not allow further breakdowns. Instead, BTC headed north and spent the weekend trading sideways just below $60,000.

The new trading week began with another pullback that pushed bitcoin south to $58,000. However, the cryptocurrency didn’t stay long and broke above $61,000 on Tuesday.

The scenario was repeated once again on Wednesday as the asset fell back below $59,000. More of the same followed, with bitcoin jumping to $60,000 and beyond last night amid rumors that RFK would drop out of the US election race, potentially favoring pro-crypto candidate Donald Trump.

BTC hit a high of $61,800, which became a weekly high, before returning to around $61,000 from now on. Its market cap is just over $1.2 trillion, while its dominance of the highs has increased slightly to 53.6% at CG.

Bitcoin/Price/Chart 22.08.2024. Source: TradingView LINK, UNI, MATIC on the Rise

Most altcoins have turned green today. ETH has moved closer to $2,650 after a minor 2% increase. XRP, SOL, AVAX, DOGE and DOT have also posted similar gains.

BNB, ADA, SHIB and BCH have seen more impressive increases around 3-4%. However, the biggest gains on a daily basis include LINK (10%), UNI (7.5%) and MATIC (11%). As a result, Polygon’s native token has surpassed $0.5.

The best price performers of the top 100 alternatives are FTM (15%), BTT (14%), BEAM (14%) and RENDER (12%).

The total crypto market capitalization has recovered more than $50 billion since yesterday to reach $2.25 trillion.

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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