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Bitcoin Price Stopped at $115K, as HYPE and ASTER Plunge Hard: Market Watch

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Bitcoin’s explosive rally that took place on Monday came to a halt at just under $115,000, and the asset has been pushed south by two grand since then.

Most altcoins have also lost traction after the gains charted yesterday, and HYPE and ASTER are among the poorest performers.

BTC Stopped at $115K

Last week went in a painful manner for the primary cryptocurrency, which started at $115,500 before the bears came out to play and drove the asset south hard. At first, BTC dumped to $112,000, which became a 10-day low. However, that was just the beginning as bitcoin kept losing value in the following days.

The culmination took place on Friday when BTC slipped below $109,000 on a couple of occasions. That support level didn’t crack, though, and BTC remained sideways around $109,500 during the weekend.

The bulls finally reminded of their presence on Monday in an impressive manner. In less than a whole trading day, they took bitcoin from under $110,000 and pushed it all the way up to $114,800 (on Bitstamp) earlier this morning. However, the resistance at $115,000 turned out to be too strong for the moment, and the subsequent rejection has driven BTC south to under $113,000.

For now, its market cap has retreated to $2.250 trillion on CG, while its dominance over the alts is up to 56.7%.

BTC/USD. Source: TradingView
BTC/USD. Source: TradingView

Alts Retrace

Most larger-cap alts posted big gains yesterday but have failed to maintain their respective runs. Ethereum briefly exceeded $4,200 but now sits nearly $100 lower. SOL, XRP, ADA, AVAX, and XLM are slightly in the red on a daily scale.

Even more profound price declines come from the likes of HYPE, ENA, IP, and ASTER, with losses of up to 10%.

The total crypto market cap has shed over $60 billion since the recent peak and is back below $4 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

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