Bitcoin (BTC) Price Stands Close to $64K, Toncoin’s (TON) Downfall Continues (Weekend Watch)

After tapping $65,000 yesterday, bitcoin’s price actions calmed, and the asset remained relatively still at around $64,000.

The altcoins are also quite sluggish on a daily scale, aside from TON, which was impacted by the news surrounding Pavel Durov, Telegram’s CEO.

BTC Calms at $64K

The business week started on a negative note for the primary cryptocurrency as it failed to overcome the coveted $60,000 level and the subsequent rejection pushed it south by two grand on Monday. However, it recovered most losses on Tuesday and Wednesday and even attempted a breakout above $60,000 but to no avail, at least until Friday.

That’s when the bulls took complete control of the market and propelled an impressive rally that drove bitcoin from around $60,500 to $64,000 before the asset exploded further on Saturday morning to $65,000. Some of the possible reasons behind this notable price surge can be found here.

Nevertheless, BTC failed to maintain its run and retraced by around a grand in the following hours. As of now, it struggles to remain confidently above $64,000. Its market capitalization, though, stands strong at over $1.260 trillion on CG.

Bitcoin’s dominance over the altcoins is also on the run as it has neared 54% once again. Recall that the metric had fallen to 53.3% earlier this week.

TON Slumps Hard

The biggest news in social media and related to the crypto industry in the past 12 hours or so came from France. Local media reported that Telegram’s CEO, Pavel Durov, was arrested after he left his private jet. In the following hours, TON’s price tumbled hard by over 20% now to under $5.4.

Most other larger-cap alts are slightly in the red. ETH, BNB, XRP, ADA, AVAX, SHIB, BCH, and DOT have all produced minor daily losses, while SOL and TRX are with insignificant gains.

The total crypto market cap has shed about $20 billion since yesterday and sits at just under $2.350 trillion on CG.