TON Defies Market Sentiment With a Massive 23% Surge, BTC Slumps Toward $70K (Market Watch)

Bitcoin’s price soared to a multi-week peak of over $72,500 yesterday but failed to maintain its momentum and has dropped back down to just over $70,000 as of now.

Most altcoins are also in the red today, especially DOGE, SOL, BCH, and a few others. In contrast, TON has gone on a tear to a new all-time high after a double-digit daily surge.

BTC Fails at $72.5K

The primary cryptocurrency’s most notable price decline from last week came on Wednesday amid reports that the US government had transferred 2,000 BTC to Coinbase to sell them. The asset recovered some ground on the following day before it dropped hard once more to under $66,000.

The bulls finally stopped the freefall as the weekend arrived and helped Bitcoin regain some traction. In fact, the cryptocurrency closed down on the $70,000 level but failed to overcome it on Sunday.

That coveted price tag finally gave in on Monday morning. As reported yesterday, BTC initiated a massive leg-up that resulted in breaking above $72,500 for the first time in about four weeks.

As the community was preparing for a potential run-up toward the $73,800 all-time high, the asset reversed its trajectory and has lost more than two grand since then.

Its market capitalization has slipped to $1.380 trillion, and its dominance over the alts has taken a hit and is just shy of 50% now.

BTCUSD. Source: TradingView

TON’s World

CryptoPotato reported earlier today that TON had charted a new all-time high of over $6.5. Since then, the asset has only doubled down on its daily gains and now trades close to $6.8 after a 23% surge on a daily scale. Moreover, TON surpassed ADA in terms of market cap as the tenth-largest cryptocurrency.

ETH, XRP, MATIC, and CRO are the other larger-cap alts slightly in the green today. In contrast, DOGE has plummeted by 5%, followed by SOL (-3.7%), BNB (-2%), BCH (-3.8%), AVAX (-3.6%), and others.

The total crypto market cap has shed about $60 billion since yesterday’s peak and is down to $2.770 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto

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