Bitcoin’s price has finally calmed after the recent volatility prompted by the quickly developing situation between the US and the EU, and remains below $90,000.
Several altcoins have posted impressive gains over the past 24 hours, especially HYPE, which was in a free-fall state for about a week before that.
BTC Stands Still Below $90K
The primary cryptocurrency traded high during the previous weekend at over $95,000. However, the geopolitical tension between the US and the EU skyrocketed after the former’s president announced a new set of tariffs if the latter’s members continue to refuse to reach a deal on Greenland.
As things progressed between the two, BTC kept dropping after the Asian and futures markets opened on Monday morning. It dumped to $92,000, but the bears kept the pressure on, and bitcoin quickly lost the $90,000 support. It fell further to a multi-week low of $87,200 on Wednesday when Trump took the stage in Davos.
However, after a long speech on numerous topics, he finally said he wouldn’t use force to take control of the island. BTC quickly surged to over $90,000 but just as rapidly returned to $88,000 and then tapped $90,000 once again as Trump said they were actually working on a deal with Denmark.
The cryptocurrency experienced more volatility on Friday, but was ultimately stopped at $91,000 and now sits below $90,000 once again. Its market cap has stalled below $1.8 trillion, while its dominance over the alts is at 57.5% on CG.
HYPE Rebounds
Ethereum continues to struggle below $3,000 even after a minor 1% increase in the past 24 hours. XRP is well below $2.00, while BNB is beneath $900. XMR and CC have posted impressive gains, and so has WLFI. HYPE is the top performer today, with a 11% surge to $23. However, the asset is down by more than 7% weekly. TRX is well in the red on a daily scale.
RIVER has entered the top 100 alts after a 32% explosion daily. MYX follows suit in terms of 24-hour gains, surging by 12% to $6.50.
The total crypto market cap has defended the $3.1 level and remains inches above it.
The post Hyperliquid (HYPE) Soars 11% After Recent Crash, Bitcoin (BTC) Still Below $90K: Weekend Watch appeared first on CryptoPotato.