Bitcoin added several grand over the weekend and even headed toward $120,000, where the bears stepped in and didn’t allow a surge past that crucial resistance.
Some altcoins continue to outperform, including ETH, which surged to $3,900, and BNB, which continues to set new ATHs.
After spending about ten days in a tight trading range between $117,000 and $120,000, the largest cryptocurrency by market cap started to lose value rapidly last Thursday and Friday as Galaxy Digital was selling vast quantities of BTC for a third party. Consequently, the asset plummeted and bottomed at $114,500.
Once the sell-off of 80,000 bitcoins was completed, though, the cryptocurrency started to regain traction and jumped back within its range by Saturday. It spent the weekend there as well, and even jumped toward the upper boundary on Sunday evening as US President Donald Trump announced a trade deal with the European Union.
Bitcoin kept climbing during the early Monday morning hours and rose to almost $120,000. However, it was once again rejected there and pushed south by a grand to roughly $119,000 as of press time.
Its market capitalization has remained at around $2.365 trillion on CG, while its dominance over the alts has taken another hit and is below 59% now.
BNB has rocketed the altcoin market in the past several days. It broke past $800 last week before it corrected slightly, but the bulls seem to be in complete control now. Since yesterday, the asset has charted two consecutive all-time highs, with the latest being over $850 marked earlier today.
The other two big gainers from the larger-cap alts are AVAX and ENA, as the latter has surged by more than 13% again. Other impressive performers include CRO, ICP, and UNI.
ETH tapped $3,900, XPR has risen past $3.25, while SOL, DOGE, and HYPE have added around 3% of value each.
The total crypto market cap is up by $60 billion since yesterday and is well above $4 trillion on CG.
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Cryptocurrency charts by TradingView.
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