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HYPE Rockets 10% Daily as Bitcoin’s Price Reclaims $105K (Market Watch)

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Bitcoin’s price went to a multi-day peak of almost $106,500 before it faced another rejection and was pushed south by over a grand.

Many altcoins have posted impressive gains over the past 24 hours, and the larger caps are led by another HYPE explosion.

BTC Stopped at $106.5K

The primary cryptocurrency tried to take down the $110,000 level on a couple of occasions last week and perhaps head toward yet another all-time high, but each attempt was halted in its tracks. The most violent rejection came on Thursday and Friday, especially after US President Trump teica . China had violated the trade agreement between the two economic giants.

The consequences for BTC were immediate as the asset plummeted from a Thursday peak of $109,000 to $103,100 by Saturday morning, which became a 12-day low. The bulls managed to defend that level and even helped bitcoin recover some ground to $104,500 during the weekend.

Monday began with more volatility as BTC went up to $106,000 before it was pushed south to under $104,000. The asset jumped even further on Tuesday morning, touching $106,500 for the first time since Thursday, but it was stopped again and now trades inches above $105,000.

Its market cap sits at $2.090 trillion, while its dominance over the alts has taken a hit and is down by 0.5% daily to 61% on CG.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

HYPE Ships Off

HYPE was the brightest altcoin start in the middle of May, breaking its previous all-time high and charting a new one at around $40. It retraced toward $30 next, but its run has been restarted as an 11% surge has taken it to over $36.

In terms of daily gains, HYPE has been outperformed only by ENA and WIF, as they are up by 12% and 15%, respectively. Other impressive performers from the larger-cap alts include AAVE, ICP, and PEPE.

ETH has jumped by 5% and now sits at $2,600, while SOL is close to $160 following a 3% increase.

The total crypto market cap has added around $30 billion since yesterday and is up to $3.430 trillion on CG.

Kriptovalūtu tirgus pārskats. Avots: KvantitatīvsKripto
Kriptovalūtu tirgus pārskats. Avots: KvantitatīvsKripto

Amats HYPE Rockets 10% Daily as Bitcoin’s Price Reclaims $105K (Market Watch) appeared first on CryptoPotato.

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