Bitcoin experienced a corrective dip after hitting a near $83,000 multi-month high, finding support above $81,500. The wider market presented a mixed picture, with most large-cap altcoins declining while Toncoin (TON) surged another 30% following Telegram’s announcement to become its largest validator. The total cryptocurrency market capitalization remained just below $2.8 trillion.
Bitcoin’s price dropped below $75,000 last week but surged after the Federal Open Market Committee meeting. It later reached a three-month peak just over $80,000 before climbing to almost $83,000 on Tuesday and Wednesday.
The asset was due for a correction after gaining $8,000 in a week. It subsequently dipped to $80,800 before stabilizing above $81,500.
Its market capitalization is now approximately $1.635 trillion. Bitcoin’s dominance over alternative cryptocurrencies remains above 58.5%.
Toncoin has soared by over 120% this week after Telegram said it would replace the TON Foundation as the biggest validator. The move also aims to reduce network fees by up to six times.
Other notable daily gainers include VIRTUAL, SIREN, VVV, NEAR, and ICP. BNB, SOL, and ADA posted more modest increases while most larger-cap altcoins declined slightly.
