TON and M Skyrocket by 30% Each, BTC Price Tapped $81K: Market Watch

Bitcoin’s gradual price increase continued in the past several hours after yesterday’s massive volatility, and the asset tapped $81,350 for the first time since late January.

 

 

Most larger-cap alts have remained relatively sluggish on a daily scale, with ETH and TRX posting minor gains, while XRP, BNB, and DOGE are slightly in the red. HYPE is above $43 today.

BTC Saw New Local Peak

Last week’s breakout attempt was halted at $79,500, as the bears quickly regained control and drove it south to under $75,000 by Wednesday after the US Federal Reserveexpectedly left the interest rates unchanged for the third consecutive time in 2026. However, BTC rebounded swiftly in the following days and challenged $79,000 once again on Friday after reports that Iran had sent a new peace proposal to the US.

Although it was rejected, BTC remained relatively stable at around $78,000 on Saturday and briefly pumped to $79,300 on Sunday after another proposal reached Washington. It was also denied by the Trump administration, and BTC returned to $78,000.

On Monday, though, thebulls took control anddrove bitcoin to just over $80,000 for the first time since January 31. This breakout was stopped afterreports that Iran had hit a US Navy vessel, and BTC slumped to $78,400, but it was later denied by the US. Consequently, bitcoin rebounded and surged to just over $81,300 earlier today to market a new three-month peak.

It remains below $81,000 as of now, but its market cap has risen to almost $1.620 trillion, and its dominance over the alts is close to 59% on CG.

BTCUSD May 5. Source: TradingView

Two Big Gainers

Today belongs to Toncoin and MemeCore as both assets have marked similar gains of around 30%. As a result, TON has soared to $1.80, while M has tapped $3.50. MORPHO follows suit with a 10% increase to $2.15.

Ethereum has neared $2,400 after a minor increase, while TRX is up to $0.34 despite Justin Sun’slegal battles with the Trump-linked DeFi project WLFI. Interestingly, the WLFI token is actually up by 7% daily.

HYPE, ADA, BCH, and XMR have gained 2-3% daily, while XRP, BNB, DOGE, and SOL are with minor losses.

The total crypto market cap has added another $30 billion and is over $2.750 trillion on CG now.

Cryptocurrency Market Overview May 5. Source: QuantifyCrypto

 

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