Bitcoin Falls Short of $27,000 Mark as Altcoin TON Surges by 10%
Bitcoin made an attempt to surpass the $27,000 level but fell short, currently sitting about $500 away from it. In contrast, most altcoins have remained relatively stable, except for TON, which has seen a 10% surge and is now well above $2.
BTC experienced a significant drop on Monday, hitting a two-month low of just below $25,000. However, the landscape quickly changed after the release of a Bitcoin ETF application by a financial giant, sparking a recovery that erased all losses. The cryptocurrency continued to climb in the following days, reaching its highest price level in over two weeks at $26,900.
Despite this bullish momentum, BTC failed to break through the $27,000 level. It was rejected and has since retreated to $26,500. Its market capitalization remains close to $520 billion, and its dominance over altcoins sits just above 49%.
Meanwhile, TON has stolen the show once again with its impressive performance over the past week. Following positive engagement from Telegram, the asset has surged by 10% in the last 24 hours, surpassing $2. Its weekly gains stand at 20%. Other notable gainers among larger-cap altcoins include Polkadot, Litecoin, VET, and MKR, with VET rising the most by just over 5%.
On the other hand, ETH, BNB, XRP, DOGE, MATIC, and SHIB have seen minor gains, while ADA, SOL, and TRX are slightly in the red.
The overall cryptocurrency market cap has increased by a few billion and now stands at over $1.060 trillion.
Sources:
– [Franklin Templeton’s Bitcoin ETF Application](https://cryptopotato.com/franklin-templetons-bitcoin-etf-application-sparks-initial-fomo-but-enthusiasm-wanes/)
– [BTC Tapped 2-Week High Close to $27K](https://cryptopotato.com/btc-tapped-2-week-high-close-to-27k-but-these-alts-have-performed-better-market-watch/)
– [Bitcoin Desperate for Volatility as Crypto Markets Show Little Signs of Life](https://cryptopotato.com/bitcoin-desperate-for-volatility-as-crypto-markets-show-little-signs-of-life-this-weeks-recap/)
– [Telegram’s New Wallet Launch on TON Blockchain Sparks Controversy](https://cryptopotato.com/telegrams-new-wallet-launch-on-ton-blockchain-sparks-controversy/)
Disclaimer: The information provided is based on external sources and does not represent the opinions of this publication. Investors are advised to conduct their own research before making any investment decisions.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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