Bitcoin bulls pushed the asset to a new monthly high of $64,800, but it ultimately failed to continue higher and pulled back around a thousand dollars.
Chainlink emerged as the day’s top performer among larger-cap alts, while SUI continued its ascent with another double-digit gain.
Bitcoin’s Path to $65,000 Halted Again
It was last Wednesday when the leading cryptocurrency faced massive volatility as the US Federal Reserve met to discuss and potentially cut the country’s key interest rates by 50 basis points. BTC experienced several ups and downs, but the bull eventually prevailed and pushed the asset up to $64,000 on Friday morning.
After a relatively quiet weekend, Bitcoin went on the offensive again on Monday and nearly hit $65,000. However, the bears were quick to intercept the move and sent the cryptocurrency down by more than $2,000.
The bulls didn’t stay down for long, however, as they started a fresh rally over the past 12 hours, pushing BTC back up to $64,800. However, like the previous attempt, Bitcoin was unable to break above $65,000 and is now trading below $64,000.
Its market cap remained around $1.260 trillion on CG, but its dominance over alts lost further ground and fell to 53.8%.
EUI in the spotlight
Many larger-cap alternative cryptocurrencies are remaining quiet today. Ethereum and Binance Coin are down 1-2%, as is Tron. On the other hand, SOL is up that percentage and is trading at $150. Similar minor gains are coming from DOGE, SHIB, TON, and BCH.
ADA rose 3% and moved closer to $0.4. LINK surged 7% and is now trading above $12. However, SUI stands out as the best performer among the mid-cap alts, having added over 12% in value daily. Furthermore, the asset is up 45% in the past week and 80% on a monthly scale. As such, it now sits at $1.75 and is the 26th largest cryptocurrency.
Other notable daily gains included SEI (24%), POPCAT (9%) and NOT (8%).
The total cryptocurrency market is worth nearly $2.35 trillion, almost the same as yesterday.
Binance Free $600 (CryptoPotato Exclusive): Use this link to create a new account and receive an exclusive $600 welcome offer on Binance (full details).
LIMITED OFFER 2024 on BYDFi Exchange: Up to $2,888 Welcome Reward, Use this link to register and open a position of 100 USDT-M for free!
Disclaimer: The information found on CryptoPotato is that of the authors cited. It does not represent the opinions of CryptoPotato on buying, selling, or holding any investments. You are advised to conduct your own research before making any investment decisions. Use the information provided at your own risk. See disclaimer for more information.
Cryptocurrency charts by TradingView.
