Bitcoin and Altcoins Surge After Positive Economic Data 📈
Bitcoin’s price has seen a significant increase, along with several altcoins, following better-than-expected core PPI numbers in the United States. While BTC is eyeing the $61K mark, other cryptocurrencies are also experiencing positive movements. Let’s delve into the recent developments in the crypto market.
Bitcoin’s Momentum and Market Cap 🚀
Bitcoin had a successful end to the previous week, reaching nearly $63,000 on Friday. This marked a recovery of over $13,000 since its drop earlier in the week. However, the bullish trend faced resistance, causing a slight decline over the weekend to below $58,000.
- Bitcoin regained momentum on Tuesday after the US released core PPI numbers for July.
- The cryptocurrency surpassed $61,000 but is currently trading slightly below that level.
- Bitcoin’s market cap has risen to $1.2 trillion, with a dominance of about 54% over other altcoins.
TON Coin Leads Altcoin Surge 🌟
Amidst Bitcoin’s rise, altcoins have also shown positive movements. Ethereum, BNB, SOL, XRP, DOGE, ADA, TRX, AVAX, and SHIB have all recorded minor gains. TON coin stands out as the top performer today, climbing by 7.5% and hovering around $6.8.
- Ethereum has gained nearly 4% and is now priced above $2,700.
- TON coin’s surge follows positive news from Binance, boosting its value to $6.8.
- Other notable gainers in the altcoin market include UNI, NEAR, STX, and APT.
Total Crypto Market Cap Surpasses $2.2 Trillion 💰
The total cryptocurrency market cap has seen a $60 billion increase overnight, reaching $2.235 trillion. This surge reflects the overall positivity in the crypto market, driven by Bitcoin and several altcoins that have shown considerable gains within a short period.
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