Ethereum (ETH) Explodes 10% Daily, Bitcoin (BTC) Jumps Above $60,000 (Market Watch)

Bitcoin’s price recovery continues as the asset broke above $60,000 and approached $63,000 for the first time since the weekend.

Altcoins have also turned green. This time, Ethereum leads the pack with a remarkable 10% increase.

BTC goes beyond $60,000

CryptoPotato reported on the market-wide drop that occurred late last week and especially on Monday, in which the price of BTC fell from over $66,000 to a 6-month low of $49,500 in just a few days .

However, the asset began to recover almost immediately. It jumped to $53,000 on Tuesday and climbed above $57,000 on Wednesday. After a small pullback on Thursday, the bulls are back on the accelerator early today.

As a result, bitcoin soared to over $60,000, but continued to rise. That peaked near $63,000 for the first time since last Saturday. Despite failing to sustain this rally and pulling back slightly, the cryptocurrency is still up more than 6.5% on the day and is hovering around $61,000.

Its market capitalization has managed to regain the $1.2 trillion level, while its dominance over the highs has increased to 53.9%.

Bitcoin/Price/Chart 09.08.2024. Source: TradingView ETH on the rise

Ethereum’s native token was one of the poorest during the recent crash. It came within inches of breaking below $2,000. However, ETH has bounced back nicely in the following days. The last 24 hours alone have been quite beneficial for it as it has added over 10% in value and is now trading well above $2,600.

DOGE, SHIB and AVAX are the other notable gainers of the larger cap alternatives. In contrast, XRP has pulled back slightly following the massive rally experienced following the $125 million fine handed down by a US judge regarding Ripple’s legal battle against the SEC.

Most other mid-cap and large-cap alternatives are also in the green, which has helped the total market cap rise to $2.234 trillion at 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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