Bitcoin Touches $60k as Market Reverses Recent Losses

TL;DR

• Bitcoin briefly touched the $60k mark after recovering from Wednesday’s loss.

• Altcoins are also in the green, with the total crypto market cap now above $2.2 trillion.

BTC Tops $60k as Market Slightly Recovers

Bitcoin, the world’s leading cryptocurrency by market cap, is recovering from this week’s loss. It is up by more than 3% in the last 24 hours and briefly touched the $60k level.

At press time, Bitcoin’s price stands at $59,342. The rally comes after BTC slipped below the $57k level earlier this week. 

There is no major factor behind the market’s recovery. Some analysts believe that BTC has bottomed and could rally higher from here. With Bitcoin in the green, altcoins are also rallying higher.

Ether and BNB are both up by more than 2% in the last 24 hours and are trading at $2,988 and $563 respectively. TON is the best performer amongst the top 10 cryptocurrencies by market cap after adding 11% to its value. At press time, TON is trading at $5.31 per coin.

Thanks to BTC’s performance and that of the major altcoins, the total cryptocurrency market cap is now above $2.2 trillion.