Perhaps driven by reports that the US government shutdown may end this week, BTC’s price surged once again in the past 24 hours to just over $107,000, where it faced an immediate rejection.
Most altcoins have erased significant portions of yesterday’s gains as well, with ZEC and ICP leading on the way south.
BTC Halted at $107K
It was just a week ago when the primary cryptocurrency felt the selling pressure as its price dumped from over $111,000 to under $100,000 in the span of just 48 hours. As such, it dipped within a five-digit price territory for the first time since June.
The bulls finally stepped up after this substantial correction and quickly helped BTC rebound to over $100,000. The recovery attempt was stopped at $104,000, and the subsequent retracement pushed bitcoin south to just over $99,000.
Nevertheless, the asset quickly returned to a six-digit price tag and remained calm over the weekend at around $102,000. On Sunday afternoon, though, US President Trump promised dividend payments of $2,000 for non-high-income Americans, in what felt like a stimulus check déjà vu.
BTC reacted with an immediate surge to $104,000 on Sunday and up to $106,500 on Monday. After a brief retracement, reports emerged that the US government might reopen soon, which drove bitcoin above $107,000 for the first time in a week.
However, it couldn’t keep climbing and has dropped by two grand since then. Its market cap has dipped below $2.1 trillion, while its dominance has settled below 58% on CG.
UNI Up, ZEC Down
Most altcoins have turned red after the spectacular gains yesterday. ETH is back to $3,550 after a 2% daily decline, while XRP has dropped by more than 3% to $2.45. BNB, SOL, DOGE, ADA, LINK, HYPE, and XLM have posted some notable losses as well.
This trend has a clear leader today – ZEC. The high-flying privacy coin has dumped by 25% daily and now sits at $485. ICP follows suit with a 12.5% decline, and XMR is next with a 10% drop.
In contrast, Uniswap’s native token has rocketed by 20% daily and sits above $8 as of press time.
The total crypto market cap has slid by more than $50 billion and is down to $3.630 trillion on CG.
The post ZEC, ICP, and XMR Dump by Double Digits, BTC Price Rejected at $107K: Market Watch appeared first on CryptoPotato.