Bitcoin Eyeing $63K As The Market Cap Recovered $130B In One Day

Bitcoin eyeing $63K adding $3000 in one day after the latest drop below the $60,000 price range while Solana closed down to its all-time high of $216 as we are reading more in our latest Bitcoin news today.

Following the price dip to below $60,000 levels, Bitcoin eyeing $63K and it moved on and off to the $63,000 range so most alternative coins also charted gains over the past day with teh total market cap reaching more than $130 billion. After the last week’s high when BTC hit $67,000 and the asset started dropping in value with the result ending in the loss of $7000 in a few days. BTC dropped below $60,000 a few times and the same transpired during the weekend and the latest drop came hours ago when the crypto dipped to the lowest price point in less than a week at $59,000. since then, the landscape changed and BTC bounced off and reclaimed $60,000 and continued upwards by adding more than $3000 of value.

As of now, BTC is close to $63,000 and the market cap neared $1.2 trillion with the dominance over the altcoins increased in one day to 45.5%. most alternative coins retraced during the weekend but are in the green today with Ethereum slipping below $4000 a few days back but is now sitting at $4150. Ripple, Cardano, Polkadot, Binance Coin, Avalanche, Terra, Chainlink, and Dogecoin surged by more than 6% while Solana remains the most impressive performer from the 10 with a 7% increase. SOL sits at $207 with just inches away from the ATH of around $216 from earlier this year. More gains are evident from KuCoin that increased 12%, ThorChain increased by 14%, The Graph increased 12%, Token increased 11%, and Fantom as well by 10%. The cumulative market cap of all crypto assets added $130 billion in one day and sits at $2.6 trillion.

As recently reported, Bitcoin’s price continued to drop on Friday and ended the week down about 2% compared to a 1.7% gain in ETH. Some traders that went long on BTC head of the launch of ProShares’ future-focused ETF that this week it seemed to be taking profits. Still, some investors are expecting a pullback to remain limited for the rest of the year and one company even mentioned that alternative cryptos like ETH could see a new upside compared to Bitcoin. The crypto trading firm QCP wrote that they are remaining optimistic but still cautious about downside risks and noted that leverage levels a high in the BTC futures market that precedes a pullback in price most of the time. QCP expects ETH to outperform BTC in the near term.