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Viral Altcoin Skyrockets 50% as BTC Slips Further From $65K: Weekend Watch

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Bitcoin’s dull price action continues over the weekend, as the asset has barely moved from the $65,000 range, currently trading inches below that line.

Most larger-cap alts have remained sideways as well, but BNB has been able to reclaim the $600 psychological mark, while SOL and ZEC are up by just over 2%.

BTC Slips Below $65K

The business week began on the wrong foot for the primary cryptocurrency. The asset had recovered some ground during the previous weekend after Trump canceled the then-planned attacks against Iran, and sat close to $64,000. However, it was quickly rejected on Monday morning and slipped to $62,200.

Nevertheless, the bulls were quick to intercept the move and helped bitcoin rebound to $64,000 by Tuesday morning. The next few days saw some gradual price increases from BTC, which was able to tap $65,000. Although it was stopped there, after the CLARITY Act faced another setback in the US Senate, the weak jobs report that came on Friday resulted in a minor rally that drove the asset to $65,400.

Bitcoin couldn’t continue climbing and retreated to $65,000, where it spent the entire Saturday. It has remained sideways on Sunday as well, currently trading a few hundred dollars below that level.

Its market capitalization remains at around $1.3 trillion, while its dominance over the alts is above 57% on CG.

BTCUSD Aug 9. Source: TradingView
BTCUSD Aug 9. Source: TradingView

BEAT Rockets Again

Today belongs to the undisputed leader in terms of gains – Audiera’s BEAT. The highly volatile token has skyrocketed by 50% in the past 24 hours and tapped $3.30 minutes ago. PUMP and CC follow suit, with increases of 8-10%, while CRO has erased some of yesterday’s losses and has neared $0.05 again.

Solana has reclaimed the $76 level after a 2% increase, while ZEC is close to $220 after a near-3% jump. BNB is above $600 now, while XRP, HYPE, DOGE, and RAIN have marked minor losses. ETH still stands above $1,900.

The cumulative market cap of all crypto assets has slipped by around $25 billion and is down to $2.275 trillion on CG.

Cryptocurrency Market Overview August 9. Source: QuantifyCrypto
Cryptocurrency Market Overview August 9. Source: QuantifyCrypto

 

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