In a kind of white-knuckle situation, Bitcoin briefly dipped beneath the line in the sand at $100,500 yesterday. But a massive bull buying pressure slammed the door in the face of any five-figure fears, indicating now where that level is a stronghold.
The market was about to wash away all the losses from yesterday. The whole crypto market just slingshot to the uppers in the wake of an intense upward wave sparked by newfound altcoin dominance-an understandable situation, really.
BTC Recovered $5K
BTC started off the week with a bang, touching resistance at $106,500 briefly on both Monday and Tuesday. An hour-long love affair it was. A rejection at the level sent it tumbling, losing nearly $2,000.
On Thursday saw the Bitcoin dance on the very edge of the knife: first climbing to $106,000 after the ECB rate cut to 2%, then slamming into that price wall. Then came the drama: a public tirade on Twitter between titans Elon Musk and Donald Trump sparked a wild sell-off, driving Bitcoin rudely down to $100,400 on Bitstamp.
Bulls awoke and stopped what seemed like yet another plunge in Bitcoin. Instead, a midday rally mustered enough strength to push the cryptocurrency toward $105,500 on Friday. Even after the rally died down, leaving Bitcoin just shy of the peak, it is up roughly 2% for the day, which is proof enough that the cryptocurrency can stand on its own.
Its market cap has recovered to $2.080 trillion, while its dominance over the alts stands tall at 61.5% on CG.
SUI Bounces Hard
Friday saw a drumroll of kinds of activity before altcoins experienced daredevil prices descended on. Ethereum, in contrast, has been unable to break out of the $2,500 mark, exercising soaring height for perhaps one minute. XRP claws back to $2.17 on a 2% surge; BNB, SOL, DOGE, and ADA are witnessing an equal share of success in the crypto arena.
SUI is the champion of the day, rising by nearly 9%. Now, above $3.25 and still ascending, SUI is leaving behind all of its competitors. Meanwhile, HYPE has slowed down a bit, losing around 2% and now close to $34.
An overall worth surge for cryptos! Resilient from yesterday’s breakdown, $50 billion-plus value has been pumped into total market capitalization for cryptocurrencies. Official figures by CoinGecko state the market to now fly over an unimaginable $3.38 trillion.
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