Bitcoin price (BTC-USD) continues its gradual ascent after a massive sell-off last week. Altcoins like SEI and NEAR are also exhibiting a very positive price action, up 12% and 8%, respectively. The most valuable cryptocurrency on the planet is trading just below the $66,000 mark on Monday morning as the crypto markets show a dramatic recovery from last week’s lows. On the other hand, Toncoin (TON) has entered its corrective phase after a pullback from its all-time high.
The much-awaited Bitcoin halving finally occurred last Friday. This critical and highly speculative event is expected to create a supply shock by halving the amount of new BTC released with every block.
On Monday, the biggest gainers were the altcoins, as the Total3 market capitalization increased by $12.6 billion. Concurrently, Bitcoin dominance is also down 0.05%, suggesting an increased investor interest in altcoins.
Toncoin Price Prediction And Latest Analysis
The phenomenal run of Toncoin appears to have ended after as the Telegram-linked cryptocurrency enters into a major correction. On 22nd April, TON crypto was down 2.7% at press time. The pullback comes as the digital asset experienced a strong sell-off after hitting its all-time high of $7.70 earlier this month.
According to the latest technical analysis, Toncoin price prediction remains bullish. The ongoing pullback is expected to find support at the demand zone that lies below $5.50.
SEI And Near Lead The Altcoin Recovery Rally
Among the top 100 altcoins by market capitalization, SEI Network and Near have posted the most gains in the last 24 hours. At press time, NEAR was up 8%, and the native asset of SEI blockchain was up 12%. A significant surge in the daily trading volume was also observed in both cryptocurrencies.
On the same day, meme coins WIF and BONK plunged 3.8% and 4.1%, respectively. However, the frog-themed PEPE crypto outperformed dogcoins, surging 11% in the last 24 hours.
