After a sluggish weekend with little to no noteworthy price movements, bitcoin’s volatility returned on Monday morning with a dip to a new monthly low and an impressive rebound.
Most large-rcap alts are slightly in the green on a daily scale, and ETH has emerged as one of the top performers, having surged to over $2,050 as of press time.
Bitcoin went on a massive run last Monday after Trump’s claims that the US and Iran had made progress with their war negotiations, jumping from $67,500 to almost $72,000. It dropped to $69,000 after Iran denied Trump’s statements, but resumed its rally on Wednesday when it tapped a weekly peak at $72,000.
This resistance was too hard to overcome, and BTC quickly began to nosedive. The culmination during that business week was on Friday, when the cryptocurrency dropped to $65,600 for the first time in about four weeks.
It managed to rebound to over $66,000 almost immediately, and spent the weekend trading sideways between that lower boundary and $67,000. It dipped once again earlier this morning to a new monthly low at just under $65,000 before it jumped to nearly $68,000, where it was stopped after the latest developments on the war front.
Its market cap has calmed at $1.350 trillion, while its dominance over the alts stands at just over 56% on CG.
The world’s largest altcoin has reacted well to the latest price volatility, rebounding by 3% since yesterday to over $2,050 as of now. The asset dipped below $1,950 earlier this morning. BNB, XRP, SOL, TRX, DOGE, and ADA are also slightly in the green.
In contrast, HYPE has dropped by 4%, while BCH is still 6% down on the day after yesterday’s flash crash. More gains come from the likes of ZEC, SHIB, UNI, NEAR, and SKY, while SIREN continues to outperform with another 8% surge to almost $1.80.
The total crypto market cap has recovered $40 billion since this time on Sunday, and now sits above $2.4 trillion on CG.
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