Bitcoin dipped below $77,000 on Monday as fresh Middle East attacks rattled markets, then recovered nearly $2,000 to trade close to $79,000. Monero jumped almost 10% to lead the day's gainers, while Ethereum, BNB, and XRP remained in the red.
Bitcoin opened the week with a drop below $77,000 as geopolitical tensions in the Middle East escalated amid new attacks, but the asset has since clawed the losses back. It has recovered nearly two grand to trade close to $79,000 again, pushing its market cap back to $1.580 trillion.
BTC rebounds toward $79,000
The move caps a volatile stretch. After gaining $15,000 in 48 hours, bitcoin was due for a correction and dropped below $75,500 last weekend. The bulls then regained control through the week, driving the asset to $81,000 and $81,500 — its highest price tag in over three months.
However, Thursday's attempt met a sharp rejection, perhaps tied to the hawkish stance Fed Chair Kevin Warsh took during his Friday Jackson Hole speech, and bitcoin slumped to under $77,000. It rebounded over the weekend, climbing past $79,000, before the new Middle East attacks sent it dipping to just under $77,000 Monday morning. Bitcoin's dominance over the alts has risen to over 58.5% on CoinGecko.
XMR leads while major alts lag
Monero's XMR is today's top performer, having surged almost 10% to well over $520. Most other large-cap alts remain in the red, however. Ethereum is still just under $2,500, and BNB has failed to reclaim $690.
XRP sits well below $1.40 despite major ETF inflows last week that pushed total flows to a new all-time high. Solana and Dogecoin are down by up to 2.5%. RAIN has plummeted 8.6% to $0.016. PUMP has slumped 9% to $0.0044. The cumulative crypto market cap has recovered over $50 billion since this morning's low, reaching $2.7 trillion on CoinGecko.
Source: CryptoPotato
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