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3 Altcoins Post Double-Digit Gains as Bitcoin (BTC) Reclaims $65K: Market Watch

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Bitcoin’s price hasn’t made a major move for days, as it continues to remain stuck at around $65,000 since Friday. The good news for the bulls is that it now stands on the upper side.

Most larger-cap alts perform similarly, with little to no actual moves. XMR is up by 3%, NEAR by 2.5%, while WLD and PUMP have stolen the show.

BTC Rises Above $65K (Slightly)

The previous business week began on a significantly more volatile note. At first, BTC was rejected at $64,000 after an eventful weekend on the Middle East war front, and dipped to $62,200 within hours. However, the bulls stepped up and helped it recover the lost ground almost immediately.

The following few days were more positive as bitcoin tapped $65,000 by Wednesday. It remained at around that level before the CLARITY Act faced another setback in the US Senate, and BTC dipped toward $64,000. The weak US jobs report from Friday, though, brought some hopes that the Fed won’t hike the rates in September, and BTC reacted with a price pump to $65,400.

That was short-lived, though, as the cryptocurrency failed to maintain its run. It retreated to around $65,000 and has spent the following 72 hours or so trading sideways. It currently sits above that level after dipping to $64,800 yesterday, but more volatility is expected as the week progresses.

Its market cap has seemingly reclaimed the $1.3 trillion level, while its dominance over the alts remains above 57% on CG.

BTCUSD Aug 10. Source: TradingView
BTCUSD Aug 10. Source: TradingView

3 Alts Pump Hard

Bitway (BTW) is the altcoin that has entered the top 100 coins by market cap, after surging by another 20% in the past day. The asset has rocketed by triple digits since this time last Monday.

WLD and PUMP follow suit in terms of daily gains. Both assets have jumped by around 13% to $0.345 and $0.0028, respectively. VVV is up by 9% to $12.

In contrast, there’s little volatility among the top 15 alts. ETH, BNB, XRP, SOL, and TRX are slightly in the green, while HYPE, DOGE, RAIN, ZEC, and ADA have posted insignificant losses.

The cumulative market capitalization of all crypto assets remains close to $2.3 trillion on CG.

Cryptocurrency Market Overview August 10. Source: QuantifyCrypto
Cryptocurrency Market Overview August 10. Source: QuantifyCrypto

 

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