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Bitcoin’s price tumbled once again late last night but the asset has managed to recover most losses and now stands well above $60,000.
Most altcoins are slightly in the green on a daily scale, with XRP climbing by 2%, while BNB has dropped by the same percentage.
<h2 id="btc-bounces-above-60k">BTC Bounces Above $60K</h2>
It’s safe to say that Uptober has failed to deliver the expected gains so far. The situation looked different at the start of the current business week as BTC jumped to over $64,400. However, that was short-lived, and the asset started losing value almost immediately.
It had dropped to $62,000 by Wednesday, but the bears kept the pressure mounting, and it further fell to $60,400 on Thursday morning. The landscape worsened in the evening when bitcoin <a href="https://cryptopotato.com/bitcoin-price-slumped-toward-60k-aptos-tanks-9-daily-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">slumped</a> by a few more grand to a multi-week low of $58,800. As <a href="https://cryptopotato.com/bitcoin-price-plummets-toward-59k-250m-liquidated-in-a-day/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reported</a>, this violent retracement caused roughly $250 million in liquidations on a daily scale at the time.
Nevertheless, the bulls finally stepped up at this point and didn’t allow any further corrections. Just the opposite, BTC has recovered almost $2,000 since then and now trades around $60,700.
Still, it’s down by over 1% on a weekly scale, which has pushed its market cap to just under $1.2 trillion. Its dominance over the alts has also taken a hit and is down to 53.9% on CG.
<figure id="attachment_365688" aria-describedby="caption-attachment-365688" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-7.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-365688" src="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-7.png" alt="Bitcoin/Price/Chart 11.10.2024. Source: TradingView" width="1835" height="827" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-7.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-7-300x135.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-7-1024x461.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-7-768x346.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-7-1536x692.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-7-50x23.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-365688" class="wp-caption-text">
 Bitcoin/Price/Chart 11.10.2024. Source: TradingView
 </figcaption>
</figure>
<h2 id="uni-on-the-rise">UNI on the Rise</h2>
Most altcoins experienced similar volatility yesterday but have calmed on a daily scale. ETH, SOL, XRP, TON, DOGE, ADA, and AVAX have charted some minor gains over the past 24 hours, while BNB, TRX, and SHIB are slightly in the red.
UNI and IMX have popped as today’s top performers from the larger-cap alts, with gains of around 4%. In the case of the former, the price surges have only intensified as it is up by 20% since this time last Friday.
Nevertheless, the total crypto market cap has declined slightly since yesterday and is down to $2.220 trillion.
<figure id="attachment_365690" aria-describedby="caption-attachment-365690" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-11-113700.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-365690" src="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-11-113700.jpg" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1883" height="838" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-11-113700.jpg 1883w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-11-113700-300x134.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-11-113700-1024x456.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-11-113700-768x342.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-11-113700-1536x684.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-11-113700-50x22.jpg 50w" sizes="(max-width: 1883px) 100vw, 1883px"></a>
 <figcaption id="caption-attachment-365690" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/btc-price-recovers-from-sub-59k-dip-uni-skyrockets-20-weekly-market-watch/" rel="noopener noreferrer nofollow">BTC Price Recovers From Sub-$59K Dip, UNI Skyrockets 20% Weekly (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

BTC Price Recovers From Sub-$59K Dip, UNI Skyrockets 20% Weekly (Market Watch)

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