Bitcoin’s rather uncertain price recovery continued in the past 24 hours as the asset tapped $109,500, where it faced a quick rejection.
Most altcoins are still sluggish on a daily scale, which is why we will focus on their weekly moves, where CRO reigns supreme.
BTC Stopped at $109.5K
Following last Friday’s price pump to over $117,000 after Jerome Powell’s speech, bitcoin calmed at around $115,000 during the previous weekend until Sunday evening, when massive volatility reached the market. In the matter of just an hour or so, BTC plunged hard by several grand to under $111,000.
The bulls tried to recover some ground on Monday but were quickly stopped at $113,500. The bears seemed fully in control as they drove the cryptocurrency to under $109,000 on Tuesday morning.
Bitcoin initiated another leg up that was once again halted at $113,500 on Thursday. In the following hours, the asset lost all of its momentum and plummeted to $107,200 on Saturday morning, which became a new seven-week low.
It bounced off to $109,500 earlier today, but it couldn’t keep climbing. As of now, it struggles to remain above $109,000 after the latest rejection. Its market cap is back to $2.170 trillion, while its dominance over the alts has stalled at 56% on CG.
Weekly Moves
The weekly charts are quite grim for almost all altcoins. Ethereum has dumped below $4,500 after a 6.3% decline since last Sunday. XRP fights for $2.80 following a similar retracement. DOGE, TRX, ADA< LINK, SUI< and XLM are deep in the red as well.
In contrast, there’s CRO. The asset has skyrocketed by 81% since last Sunday and now trades close to $0.30. Its most significant surge drove it to $0.38 mid-week following a massive adoption announcement by the Trump Media Group.
The other two larger-cap alts in the green are POL (13%) and Pi Network’s PI token (7%).
The total crypto market cap has shed roughly $200 billion weekly and is down to $3.850 trillion on CG.
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Cryptocurrency charts by TradingView.
