Bitcoin’s price ascent drove the asset to over $87,000 once again in the past several hours, but the bears were more persistent so far, pushing it down toward $86,000.
Several altcoins have posted major gains over the past day, including Ripple’s XRP, which has soared past $1.60, and Hyperliquid’s HYPE, which tapped a new all-time high close to $100.
BTC Stopped at $87.3K Again
After last week’s failed advancement vote on the CLARITY Act and the subsequent rate hike by the US Federal Reserve, concerns emerged about BTC’s ability to sustain its August breakout. After all, the asset was rejected at $80,000 on several occasions, and both of these developments pushed it south to a three-week low at $75,000.
However, the cryptocurrency rebounded swiftly and quickly reclaimed $78,000 by Friday morning. The bulls stepped up on the gas pedal later that day, driving it past $80,000. Unlike previous occasions, though, BTC managed to continue forward and challenged $82,000 on Saturday.
The latest escalation in the Middle East conflict as well as the Ukraine-Russia war halted its progress, and bitcoin slipped to $80,300. However, it didn’t slip below $80,000. Instead, it went on a wild run on Monday, adding $7,000 in value and surging past $87,000 for the first time since late January.
It was halted there, though, and dipped to $85,000 before it tried again, only for the same scenario to repeat. As of press time, BTC has been pushed to $86,000, while its dominance over the alts remains at 59% and its total market cap is still above $1.730 trillion on CMC.
BCH, UNI, BTW Fly
ETH, BNB, SOL, DOGE, and ADA have remained at the same levels as yesterday. HYPE broke its all-time high, setting a new one at $98. Ripple’s XRP has reclaimed the key $1.60 resistance. ZEC has rocketed past $1,600 after a 7% daily surge.
Even more impressive gains are evident from BCH and UNI. Both assets benefited from this CME announcement. The former has jumped by over 33% now, while the latter is up by 16%. BTW has increased by double digits as well. AAVE and MNT are also well in the green.
The total crypto market cap has added $50 billion daily and is up to $2.950 trillion on CMC.
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