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These Are the Top Performing Altcoins as Bitcoin (BTC) Jumps to 12-Day Peak (Market Watch)

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After last week’s massacre that drove bitcoin to a multi-month low, the asset’s recovery attempts continue in full force as it jumped above $65,000 for the first time since April 24.

Several altcoins have produced even more impressive gains over the past day, with TON, SOL, and AVAX standing out from the larger caps.

BTC Goes Above $65K

It was less than a week ago, at the start of May, when the primary cryptocurrency was dumping hard and fell to a two-month low of $56,500. This came amid growing ETF outflows and fears about what the US Fed might do during its FOMC meeting.

The central bank’s decision not to pivot from its current monetary policy resulted in immediate volatility, but it wasn’t until last Friday that BTC actually recovered some ground and jumped to just under $60,000.

Another leg up followed later that day and during the weekend that drove bitcoin to $64,000. It was a bit shaky there this morning, but the bulls stepped up on the gas pedal and pushed the cryptocurrency to a 12-day high of almost $65,500.

This means that its market cap has neared $1.3 trillion, while its dominance over the alts stands tall at 50.5%.

Bitcoin/Price/Chart. 06.05.2024. Source: TradingView
Bitcoin/Price/Chart. 06.05.2024. Source: TradingView

Alts in Green

Although BTC has maintained its dominance over the alts, many of them have outperformed the largest cryptocurrency. The most notable examples from the larger-cap alts come from SOL (6%), TON (9%), and AVAX (7%).

Ethereum is up by 3% and has exceeded $3,200, while BNB has tapped $600 after a similar increase. XRP, DOGE, ADA, SHIB, and BCH are also in the green from the larger-cap alts.

Even more impressive gains come from the likes of LINK, NEAR, MATIC, HBAR, IXP, APT, RNDR, and others.

The total crypto market cap has soared to $2.550 trillion on CG, which means that it has risen by almost $100 billion since yesterday.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

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