BTC Hits $60K Again as Altcoins Jump Higher

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Bitcoin managed to bounce from yesterday's lows, while the majority of large-cap altcoins also turned green despite continued ETF outflow concerns.

Bitcoin’s price was able to return above $60,000 today following a volatile 24 hours that saw the asset drop towards $58,300 before staging a recovery.

At the time of this writing, BTC trades at around $60,500, up nearly 3% on the day, with its market capitalization back near $1.2 trillion.

BTC Price Back Above $60K

Bitcoin had slipped to an intraday low at roughly $58,300 before the bulls were able to step in and push the asset above $61,000 at one point. The recovery was not enough, however, to erase the broader downtrend. That said, it did help
BTC regain a key psychological level after several days of selling pressure.

The total cryptocurrency market capitalization stands at a bout $2.16 trillion, which is up roughly 2% in the past 24 hours. Daily trading volume is above $83 billion, while the BTC dominance remains above 56%, suggesting that altcoins are unable to outperform, for the time being.

Ethereum also recovered alongside Bitcoin as it trades close to $1625 after gaining 3% over the past day. It remains far below levels seen earlier in the year.

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