Bitcoin’s Price Stalls
Bitcoin’s price recovery, which began a few days ago, pushed the asset to just over $78,000 before encountering resistance and declining by approximately $500.
Minor gains are evident for BNB, SOL, and DOGE. However, as the headline suggests, two larger-cap altcoins have outperformed.
Bitcoin faced rejection at $82,000 on several occasions last week, with the most recent instance occurring on Thursday. At that time, the cryptocurrency had gained over $3,000 within hours of the CLARITY Act passing the US Senate Banking Committee. However, it failed to sustain its climb and quickly lost the $80,000 psychological level.
By Friday evening, the price had fallen below $79,000, and further declined to below $78,000 on Saturday. Following a relatively calm Sunday, the largest digital asset fell again on Monday and Tuesday, dropping to $76,000, its lowest price in over three weeks.
After losing over $6,000 in several days, buyers finally intervened, preventing further losses. Bitcoin began a gradual recovery, reaching over $77,000 yesterday and exceeding $78,000 earlier this morning. However, it has since retreated below that level.
Its market capitalization has decreased to under $1.560 trillion, while its dominance over altcoins has slightly decreased to 58.2% on CoinGecko.
Altcoin Performance
Ethereum continues its underwhelming performance, showing slight daily losses, but remains above $2,100. In contrast, BNB, SOL, DOGE, BCH, and XMR have seen gains of 1-2%. HYPE has shown the most significant gains among the larger-cap altcoins, rising 19% daily to $58, nearing a new all-time high.
ZEC has added over 13% in value and is trading well above $660. DASH, MNT, ONDO, and TAO also saw gains, followed by SUI and NEAR in terms of daily performance.
The total crypto market capitalization has increased by over $30 billion in a day, approaching $2.680 trillion on CoinGecko.
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