Bitcoin’s price exploded on Monday by several grand, reaching a new multi-week peak of just over $70,000, only to be rejected and driven south by $3,000.
Most larger-cap alts experienced similar volatility but have stalled and now sit at essentially the same levels as yesterday. HYPE is among the few gainers from the larger caps, while XMR is deep in the red.
BTC Stopped at $70K
The primary cryptocurrency’s intense volatile ride began on Saturday morning when the US and Israel attacked Iran with numerous strikes. BTC dipped immediately from $67,000 to $63,000. Iran retaliated against several nations in its region, but bitcoin remained relatively unfazed. Moreover, it bounced to just over $68,000 after reports emerged that Iran’s Supreme Leader was killed during the attacks.
It dipped further after the legacy financial markets opened, but managed to remain above $65,000. Then came an unexpected rally that shook the bears. In just under an hour, bitcoin skyrocketed by roughly five grand, going from $65,200 to a multi-week peak of $70,150 (on Bistamp).
This came ahead of Trump’s speech on the Iranian situation, in which he claimed the US has complete control but warned that the war could last weeks. BTC was stopped once again at $70,000 as it happened last week, and driven south to $68,500. Minutes ago, it began to nosedive once again, and now trades below $66,500.
Its market cap is down to $1.330 trillion, while its dominance over the alts stands tall at 56.4% on CG.
NEAR Rockets
Ethereum flew past $2,000 yesterday, only to be rejected once again at that level, and is now down to $1,950. BNB was stopped ahead of $650, while XRP dropped from $1.45 to $1.35 as of now. On a daily scale, ADA, XMR, DOGE, HBAR, and XLM have lost the most value from the larger caps, while HYPE is up by almost 5% to nearly $32.
NEAR has charted the most substantial gains, soaring by over 15% to $1.37. MORPHO and ENA are next, while M has dropped by 9%.
The total crypto market cap is down by almost $100 billion since yesterday’s peak to $2.360 trillion on CG.
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