Ethereum

Cryptocurrency

Bitcoin

Toncoin

Rise

Bitcoin’s price has risen by almost two grand since yesterday, following the better-than-expected core PPI numbers in the States.
Several altcoins have produced impressive gains within the same timeframe, led by TON’s jump to over $6.7.
<h2 id="btc-eyes-61k">BTC Eyes $61K</h2>
The primary cryptocurrency had a positive end to the previous business week as it shot up to almost $63,000 on Friday. This meant that the asset had recovered over $13,000 since its <a href="https://cryptopotato.com/over-500-billion-gone-from-crypto-markets-since-friday-here-are-the-biggest-losers-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Monday dump</a> to a 6-month low of under $50,000.
However, the bears were quick to intercept the move at this point, and BTC couldn’t maintain its run. It lost some traction during the weekend and further slumped to under $58,000 on Monday.
After some<a href="https://cryptopotato.com/btc-price-fails-to-reclaim-60k-wif-dumps-5-daily-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow"> more volatility</a> during that day, bitcoin began to gain value on Tuesday afternoon after the US released the core PPI numbers for July, which had increased less than expected. <a href="https://www.reuters.com/world/us/futures-rise-ppi-set-kick-off-data-deluge-2024-08-13/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">According</a> to Wedbush Securities’ managing director of equity trading, Michael James, this suggests that the Fed will cut the rates “sooner rather than later.”
BTC topped $61,000 late last night but has fallen to just under that level now. Its market cap is up to $1.2 trillion on CG, while its dominance over the alts has neared 54%.
<figure id="attachment_353452" aria-describedby="caption-attachment-353452" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-14.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-353452" src="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-14.png" alt="Bitcoin/Price/Chart 14.08.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-14.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-14-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-14-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-14-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-14-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-14-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-353452" class="wp-caption-text">
 Bitcoin/Price/Chart 14.08.2024. Source: TradingView
 </figcaption>
</figure>
<h2 id="ton-on-the-rise">TON on the Rise</h2>
Most of the altcoins have turned green as well on a daily scale. Ethereum has added nearly 4% of value and now sits well above $2,700. BNB, SOL, XRP, DOGE, ADA, TRX, AVAX, and SHIB have also posted some minor gains.
Toncoin has emerged as today’s top performer following some <a href="https://www.binance.com/en/support/announcement/introducing-toncoin-ton-on-binance-launchpool-and-super-earn-farm-ton-by-staking-bnb-fdusd-and-ton-94400db7b1934344aadf944166015715?hl=en" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">positive news</a> from Binance. TON is up by 7.5% and now trades close to $6.8. The other notable gainers from the larger-cap alts include UNI, NEAR, STX, and APT.
The total crypto market cap has added $60 billion overnight and is up to $2.235 trillion on CG.
<figure id="attachment_353455" aria-describedby="caption-attachment-353455" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-14-113444.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-353455" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-14-113444.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1879" height="826" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-14-113444.png 1879w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-14-113444-300x132.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-14-113444-1024x450.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-14-113444-768x338.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-14-113444-1536x675.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-14-113444-50x22.png 50w" sizes="(max-width: 1879px) 100vw, 1879px"></a>
 <figcaption id="caption-attachment-353455" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/bitcoin-price-eyes-61k-after-promising-ppi-numbers-toncoin-rises-7-market-watch/" rel="noopener noreferrer nofollow">Bitcoin Price Eyes $61K After Promising PPI Numbers, Toncoin Rises 7% (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin Price Eyes $61K After Promising PPI Numbers, Toncoin Rises 7% (Market Watch)

Table of Contents

CryptoPotato_News

Other articles published on Aug 14, 2024

Franklin Templeton Unveils U.S. Money Fund on Arbitrum

Sui Price Prediction 2024 – 2030: SUI Price To Hit $2 This Bull Run?

Kokomo Games Enters Web3 Gaming with Oversubscribed Angel Round

Goldman Sachs Contradicts Past Skepticism with $418M Bitcoin ETF Investment

Just In: FBI Comments on the Identity of Bitcoin’s Mysterious Creator, Satoshi Nakamoto

MetaMask and Mastercard launch new crypto debit card

Join our free newsletter for daily crypto updates!