SOL and SUI Gain Momentum as BTC Price Stabilizes at $84K (Weekend Watch)
Bitcoin surged by over three grand on Friday but failed to overcome the resistance at $85,000 and has slipped by about a grand since then.
Several altcoins have produced impressive gains over the past day, and ATOM stands out as the only one with a double-digit increase.
BTC at $84K
The primary cryptocurrency had a rocky start to the week as it lost the $86,000 level, which held during the previous weekend, and slumped to $80,000 on Monday. After a brief rebound to $84,000, the bears took complete control of the market and pushed it south hard to under $77,000 for the first time in approximately four months.
After losing nearly ten grand in less than 48 hours, BTC finally reacted well and jumped above $80,000 hours later. It kept climbing on Wednesday after the favorable US CPI data but was stopped at $84,000 and driven back down to $80,000. More volatility ensued on Thursday and especially on Friday when it jumped from $82,000 to a multi-day peak of over $85,000 within hours.
However, the rally faced another rejection, and BTC now trades quietly at around $84,000. According to some analysts, this is a crucial support zone that could determine whether bitcoin has the legs to challenge $90,000 soon.
For now, its market cap remains under $1.670 trillion on CG, while its dominance over the alts is close to 59%.
SOL, SUI on the Rise
As mentioned above, the two top gainers from the larger-cap alts are SOL and SUI. Both have jumped by over 6% and now trade above $230 and $2.35, respectively.
ETH remains above $1,900 despite some warnings about a potential drop below $1,300, while XRP has tapped $2.4 after a 4% daily surge. BNB has neared $600, while DOGE, ADA, and LTC are up by around 3% each.
The total crypto market cap has added about $60 billion since yesterday’s low and is up to $2.840 trillion on CG.
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