Bitcoin’s Price Action Remains Sluggish Over the Weekend
Bitcoin’s price action has continued its dull trajectory over the weekend, with the cryptocurrency barely budging from the $65,000 range and currently trading just below that mark. Most larger-cap altcoins have also experienced sideways movement, though BNB has managed to reclaim the psychologically significant $600 level, while SOL and ZEC have seen gains of just over 2%.
The business week began on a negative note for the primary cryptocurrency. After recovering some ground the previous weekend following former President Trump’s decision to cancel planned attacks against Iran, Bitcoin had settled near $64,000. However, it faced a swift rejection on Monday morning, slipping to $62,200.
Bulls Intervene, Price Recovers
Despite the downturn, bulls quickly intervened, helping Bitcoin rebound to $64,000 by Tuesday morning. The subsequent days saw gradual price increases, with BTC managing to touch $65,000. This upward momentum was halted, however, after the CLARITY Act encountered another setback in the U.S. Senate. A weak jobs report released on Friday then triggered a minor rally, pushing the asset to $65,400.
Sideways Movement Persists
Bitcoin was unable to sustain its climb and retreated to $65,000, a level it held throughout Saturday. The cryptocurrency remained range-bound on Sunday as well, currently trading a few hundred dollars below that threshold. Its market capitalization remains around $1.3 trillion, with its dominance over altcoins exceeding 57% according to CoinGecko.
Altcoin Market Sees Mixed Performance
The day’s standout performer in terms of gains is Audiera’s BEAT, a highly volatile token that has surged by 50% in the past 24 hours, reaching $3.30. PUMP and CC have followed suit with increases of 8-10%, while CRO has recovered some of its previous day’s losses, nearing $0.05 again.
Solana has reclaimed the $76 level after a 2% increase, and ZEC is trading close to $220 following a nearly 3% jump. BNB is now above $600, while XRP, HYPE, DOGE, and RAIN have registered minor losses. Ethereum continues to trade above $1,900.
The total market capitalization of all crypto assets has decreased by approximately $25 billion, now standing at $2.275 trillion, according to CoinGecko.
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