Bitcoin’s price rejection at $65,400 from earlier this week brought another leg down in the past 24 hours as the asset slipped to a 9-day low of $63,200, where it finally found some support.
Interestingly, most larger-cap alts are slightly in the green on a daily scale now, even Ripple’s XRP, which dipped below $1.00 for the first time in nearly two years yesterday.
BTC Tried to Recover
The primary cryptocurrency’s August low came at the start of the month when it dipped to $62,200 on a couple of occasions, the latest being August 3. It reacted well and surged to $64,000 within a day. It kept climbing in the following days and eventually tapped $65,000 before it was halted there after the CLARITY Act stalled in the US Senate.
The weak US jobs report on Friday resulted in a relief rally for BTC, which jumped to $65,400. However, it was stopped there and spent the weekend trading sideways at around $65,000. It tried to break out on Monday, but it was halted at $65,400 again. This time, the correction was more violent as BTC slipped to $63,800.
It rebounded to $64,400 yesterday, but another leg down followed that drove it to its lowest level since last Monday at $63,200. It has recovered some ground since then but still trades below $64,000 as of press time.
Its market cap has stalled at $1.280 trillion on CG, while its dominance over the alts has dipped to under 57% on CG.
XRP Dipped Below $1
After a few days of gradually increasing selling pressure, Ripple’s XRP finally slipped below $1.00 yesterday for the first time since late 2024. Although it has currently rebounded to $1.02, analysts are still split on whether this is a warning of a bigger storm ahead or a hidden accumulation opportunity.
ETH has neared $1,900, BNB has reclaimed the $610 level, while TRX stands close to $0.34. SOL, DOGE, RAIN, XMR, and LINK are slightly in the green, while HYPE, ADA, and ZEC are in the red.
Uniswap’s UNI has dropped the most over the past 24 hours, losing more than 10% of value to $3.55. PUMP follows suit with a 7% nosedive.
The total crypto market cap has remained at essentially the same level as yesterday at $2.250 trillion on CG.
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