Bitcoin’s price recovery attempt to over $64,000 came to a quick halt, as the asset was pushed south by over a grand before it finally found some support.
HYPE and ZEC have posted the most substantial gains from the larger-cap alts, while ETH has slid below $1,900 again, and XRP is close to dipping beneath $1.00 for the second time this week.
BTC Calms Below $64K
The primary cryptocurrency went on a minor run that began at the start of the previous business week when it pumped from $62,200 to over $65,000 at the end of it. The local peak came despite the CLARITY Act setback in the US Senate and following the weak US jobs report for July.
Although it couldn’t continue climbing past $65,400, it spent the subsequent weekend trading sideways around $65,000. It tried to break out once again on Monday, but it faced another rejection at $65,400. This time, though, it was more violent as it slumped by $1,500 to $63,800 within hours.
The rebound was stopped at $64,400 a day later, and the drop pushed it to $63,200. Even the US CPI data for July, which matched expectations, did not lead to a more profound recovery. BTC was stopped again at $64,400, and another dip to $63,200 followed.
It has since calmed between the two boundaries, currently trading at $63,600. Its market cap has dropped below $1.280 trillion on CG, while its dominance over the alts is beneath 57%.
HYPE, OKB on the Rise
Bitway’s BTW has solidified its position within the top 100 alts by market cap. Another 11% surge has made it the 83rd-largest crypto by that metric. OKB follows suit. It has surged by more than 7% daily (and 27% monthly) and now sits above $100. MNT, VVV, and STABLE are next from the mid-cap alts.
HYPE and ZEC have posted the most significant gains from the larger-cap alts. Both are up by around 3-4% to $58 and $495, respectively. In contrast, RAIN is down by over 4% to $0.0124. XRP, DOGE, SOL, BNB, TRX, and ADA are also in the red. ETH is below $1,900 after a 1% decline.
The total crypto market cap has shed around $30 billion daily and is down to $2.250 trillion on CG.
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