WIF, TON Explode by Double Digits as BTC Taps $63K Amid Minor ETF Outflows (Market Watch)

Bitcoin’s price volatility increased in the past few hours as the asset shot up briefly toward $64,000 but was stopped and pushed back down to $63,000 now.
RNDR continues its price ascent with another impressive daily increase that has driven it to over $11. Most other alts are also in the green now.
BTC Rises to $63K
The ongoing business week went a lot less eventful than the previous one, in which BTC dumped to a two-month low of $56,500. Its recovery began last Friday and especially during the weekend, as the asset soared to almost $64,000 by Sunday.
It failed to overcome that level at first but jumped above it and all the way up to a 12-day peak of $65,500 on Monday. However, it couldn’t maintain its run and started losing value in the following days.
This culminated with a price drop to $60,600 yesterday. At this point, though, the bulls stepped up and didn’t allow a break below $60,000. In fact, bitcoin started regaining traction and jumped to almost $64,000 earlier this morning despite the minor outflows from the US-based spot ETFs.
As of now, BTC has lost around a grand and stands close to $63,000. Its market cap is at $1.240 trillion, while its dominance over the alts is at 50.6% on CG.
Bitcoin/Price/Chart 10.05.2024. Source: TradingView
WIF, TON, SOL on the Rise
Toncoin was among the poorest performers a few weeks ago despite the network’s adoption by the world’s largest stablecoin – USDT. However, the asset reversed its trajectory in the past few days and now sits close to $7 after a 13% daily surge.
The popular meme coin – WIF – is another double-digit gainer from the larger-cap alts. A 10% surge has pushed it to almost $3.2. IMX (10%), SOL (7.4%), KAS (8.7%), and RNDR (6%) follow suit.
ETH has reclaimed the $3,000 level after a 2% increase, while BNB is slightly in the red and is just inches below $600.
The total crypto market cap has gained around $50 billion in a day and is close to $2.450 trillion now.
Cryptocurrency Market Overview. Source: QuantifyCrypto
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