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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 said 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.

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

职位 HYPE Rockets 10% Daily as Bitcoin’s Price Reclaims $105K (Market Watch) 首次出现在 加密土豆.

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