Bitcoin’s price dipped once again on Friday on schedule but managed to rebound almost immediately, and it’s now challenging $64,000 once again.
Most larger-cap alts have remained sideways on a daily scale, with minor gains from ETH, XRP, and SOL. ADA has risen the most from this cohort of crypto assets.
BTC Bounces Toward $64K
The business week began with an expected nosedive for the largest cryptocurrency, which went from roughly $64,000, where it spent most of the previous weekend, to under $62,000 as the market priced in the latest attacks in the Middle East. Strategy then made a no-buy and no-sale announcement, which left BTC unfazed, and all eyes turned on the US CPI on Tuesday.
Although many expected inflation had cooled to around 3.8%-3.9%, the reality was even more promising: a decline to 3.5%. Bitcoin’s price reacted immediately as the asset soared from the aforementioned low to a three-week peak of $65,500 by Wednesday. However, it was rejected there and, as it happened on many previous Fridays, it dropped by a few grand on that day.
The bulls finally intervened after bitcoin had dipped to $62,400 and didn’t allow another leg down. Instead, the cryptocurrency bounced to $64,400 earlier this morning, where it was stopped, and now fights for $64,000 as analysts expect major volatility soon.
Its market capitalization remains above $1.280 trillion on CG, while its dominance over the alts stands still at 56.5%.
PI, VVV, CRO on the Run
As mentioned above, most larger-cap alts stand relatively still today. ETH, XRP, SOL, HYPE, DOGE, ZEC, and XLM are slightly in the green, while BNB, TRX, and RAIN have marked insignificant losses.
Cardano’s native token is up by over 4.5% and now trades above $0.165. CRO continues its rise after the recent $400 million investment in the exchange behind it, rising by over 5%.
Pi Network’s volatile rollercoaster continues today. After charting fresh all-time lows in the past week, PI has rebounded swiftly from the $0.07 support and now trades above $0.08 after an 8% daily increase.
The total crypto market cap has added around $30 billion in a day and stands above $2.270 trillion on CG now.
Source: CryptoPotato
