The bitcoin bulls drove the asset to another monthly high of $64,800, but it ultimately failed to continue upward and has retracted by around a grand.
Chainlink has popped as today’s top performer from the larger-cap alts, while SUI continues its ascend with another double-digit surge.
BTC’s Path to $65K Halted Again
It was last Wednesday when the primary cryptocurrency faced massive volatility as the US Federal Reserve met to discuss and eventually lower the key interest rates in the country by 50 basis points. BTC went up and down on several occasions, but the bull prevailed in the end and pushed the asset north to $64,000 on Friday morning.
After a relatively sluggish weekend, bitcoin went on the offensive once again on Monday and neared $65,000. However, the bears were quick to intercept the move and pushed the cryptocurrency south by more than two grand.
The bulls didn’t stay down for long, though, as they initiated another leg-up in the past 12 hours or so that propelled BTC to $64,800 again. However, as it happened with the previous attempt, bitcoin couldn’t break through $65,000 and now trades below $64,000.
Its market capitalization has remained at around $1.260 trillion on CG, but its dominance over the alts has lost some more ground and is down to 53.8%.
SUI in the Headlines
Many of the larger-cap alts stand quietly today. Ethereum and Binance Coin have retraced by 1-2%, and so has Tron. In contrast, SOL has increased by that percentage and trades at $150. Similar minor gains come from the likes of DOGE, SHIB, TON, and BCH.
ADA has increased by 3% and has neared $0.4. LINK has jumped by 7% and now trades above $12. However, SUI stands out as the top performer from the mid-cap alts, having added more than 12% of value daily. Moreover, the asset is up by 45% in the past week and a whopping 80% on a monthly scale. As such, it now sits at $1.75 and is the 26th-largest cryptocurrency.
Other notable daily gainers include SEI (24%), POPCAT (9%), and NOT (8%).
The total crypto market stands close to $2.350 trillion, which is basically the same as yesterday.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Source link
Jordan Lyanchev
https://cryptopotato.com/sui-explodes-by-12-daily-bitcoin-stopped-at-65k-again-market-watch/
2024-09-25 08:55:37
