Bitcoin’s recovery tour continues as the cryptocurrency jumped from under $59,000 yesterday to a multi-day peak of over $63,000 earlier today.
Most altcoins have followed suit with impressive gains once again, including the ever-volatile meme coin sector.
BTC Goes After $63K
Bitcoin had a highly adverse trading week as its price dumped hard on a few occasions. It all started positively on Monday morning when BTC pumped to almost $65,000, but the bears took control of the market immediately and pushed it south to $62,000.
The declines were far from over as the asset further slumped to and below $60,000. The correction culminated in a two-month low of $56,500 charted on Wednesday, ahead of the latest US FOMC meeting.
Once that was completed and the Fed said it will not raise the interest rates soon, BTC reacted with a $2,000 pump and dump and returned to its starting position. It started to recover more ground in the following hours and neared $60,000 yesterday, as reported.
It was stopped there at first, but managed to break through that psychological resistance later that day. The bulls kept the pressure on and pushed BTC to a multi-day peak of $63,500. Despite losing some ground since then, bitcoin currently sits at around $63,000.
Its 6% daily increase means that its market cap has risen to $1.240 trillion, while its dominance over the alts stands at 50.5%.
