Crypto World
Ethereum Faces 200-Day EMA Rejection Amid $7B Liquidation Cascade
TLDR:
- ETH failed three times at the 200-day EMA, confirming weakening momentum and sustained selling pressure.
- Over $1.3B in long liquidations shows derivatives activity dominated price action, not spot demand.
- The $2.7K level flipped from support to resistance, redefining near-term market structure.
- Focus now shifts to $2.3K and $1.8K as the next zones of potential buyer interest.
ETH 200-day EMA rejection shows repeated failures near resistance aligned with a wave of forced liquidations. Price action now reflects leverage-driven volatility instead of organic trend recovery.
Distribution Behavior Emerges at Key Technical Resistance
ETH price moved higher, yet the advance lacked sustained demand. Instead, it appeared driven by short covering into a known supply zone.
Momentum weakened with every approach to the moving average. Candle bodies narrowed, and upper wicks became more frequent. At the same time, volume failed to expand.
Furthermore, the repeated rejection pattern reinforced technical exhaustion. Three attempts at the same resistance level produced lower follow-through each time. This suggested that sellers maintained control despite temporary upside pressure.
On social media, several analysts shared charts showing price stalling exactly at the 200-day EMA. Therefore, upside strength functioned mainly as liquidity for larger participants.
Soon after, ETH slipped back below $2.7K. That level had served as short-term support during the rebound phase. Once breached, it transitioned into resistance, and market bias tilted downward.
This pivot divided two narratives. Above $2.7K, traders could argue for base formation. Below it, the structure favored continued probing lower. As a result, each rally into that zone now attracts selling interest.
Moreover, price behavior showed hesitation rather than conviction. Buyers failed to defend higher levels with sustained closes. Sellers, in contrast, reacted quickly at technical boundaries.
Thus, the pattern reflected strategic positioning rather than emotional panic. Distribution unfolded gradually, supported by visible rejection zones and fading momentum. The chart no longer communicated recovery. Instead, it communicated controlled exits into strength.
Liquidation Cascades Replace Organic Market Flow
ETH 200-day EMA rejection coincided with violent intraday swings driven by derivatives activity. Price repeatedly moved from $80 to $100 within minutes. Such behavior is not typical of spot-led markets.
Approximately $1.3 billion in long liquidations occurred during the session. These events represented forced closures of leveraged positions, not discretionary selling. Therefore, the tape reflected margin mechanics rather than investor sentiment.
As the price crossed clustered liquidation levels, automated orders accelerated the decline. Each wave triggered the next. Consequently, volatility expanded in both directions.
Total liquidations surpassed $7 billion across the broader market. This scale revealed how one-sided positioning had become before the breakdown. When exposure concentrates, even small price shifts can ignite chain reactions.
Meanwhile, ETH failed to stabilize above reclaimed levels. The $2.7K zone remained overhead resistance. This reinforced the idea that rebounds were corrective, not impulsive.
Attention has now shifted to the $2.3K region. That area previously hosted strong demand. If the price reaches it, buyers may attempt to stabilize conditions. However, failure there would expose the $1.8K support band.
Traders continue to frame current rallies as liquidity events. Strength is treated cautiously, while resistance zones receive priority.
Hedera has come under renewed pressure after a broader market downturn dragged HBAR lower. The recent price drop reflects bearish cues driven by macro uncertainty and weakness in Bitcoin.
While the long-term outlook for Hedera remains constructive, near-term recovery attempts may struggle as market headwinds continue to weigh on sentiment.
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HBAR Has A Different Target
Price action remains macro bullish, with HBAR trading inside a well-defined descending channel. The rejection from the channel’s upper boundary near $0.1290 confirmed seller dominance.
The recent drop toward $0.0893 shows weak demand, signaling continuation risk as momentum and structure remain tilted to the downside.
Immediate support sits at $0.0786, which previously triggered a short-lived bounce. As the pattern projects a bullish outcome, the breakout from it can trigger a 31% rise. This would send HBAR rallying towards $0.1252, marking a short bounce which in turn could lead to further recovery.
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HBAR Traders Are Preparing For New Lows
Derivatives data, however, paints a more nuanced picture of trader expectations. HBAR’s futures funding rate has stayed in negative territory for the past 48 hours, even as the price attempted to stabilize. Negative funding indicates short positions are paying longs, reflecting a bias toward further downside.
This positioning suggests traders expect additional weakness and are attempting to profit from it. Short contracts currently dominate longs, signaling skepticism around any immediate recovery.
While excessive short exposure can fuel sharp squeezes, it also highlights prevailing caution across speculative participants.
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HBAR’s high correlation with Bitcoin adds another layer of risk. The correlation coefficient between HBAR and BTC currently sits near 0.96. Such a strong relationship typically benefits altcoins during Bitcoin rallies, as capital flows across the market in unison.
In the current environment, however, this correlation acts as a constraint. Bitcoin has struggled to regain momentum, and continued weakness in BTC could delay HBAR’s recovery. Until Bitcoin stabilizes or reverses higher, HBAR is likely to mirror broader market pressure rather than decouple meaningfully.
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HBAR Price Support Levels Next
HBAR is trading near $0.0895 at the time of writing, sitting just below the $0.0907 resistance. This level has capped recent upside attempts. A successful flip of $0.0907 into support would be the first signal of improving structure, opening a path toward the $0.1029 target.
Given prevailing conditions, a failed breakout appears more likely in the near term. If HBAR cannot reclaim $0.0907, the price may consolidate above the $0.0832 support. A breakdown below that level would expose HBAR to a deeper decline toward $0.0710, extending the downtrend.
A more constructive outcome depends on reclaiming $0.1029. Securing that level would allow HBAR to recover a meaningful portion of recent losses. Such a move would invalidate the bearish thesis and signal that buyers are regaining control, provided broader market conditions, led by Bitcoin, also improve.
With the crypto market still trading below previous highs, many investors are asking a familiar question: where is the best opportunity before the next major move begins? Historically, periods of muted prices have rewarded those who focus on early-stage projects showing real progress rather than short-term hype. One name increasingly coming up in these discussions is Mutuum Finance (MUTM), a new DeFi project that is still in presale while actively delivering on development.
Why MUTM Is Still Considered Undervalued
Mutuum Finance is currently in Phase 7 of its presale, with the MUTM token priced at $0.04, compared to a confirmed $0.06 launch price. Since the presale began at $0.01, the token price has increased in structured steps tied to development milestones rather than speculation. At today’s level, MUTM is already up 300% from its starting price, yet it remains 50% below its launch valuation.
The presale has raised over $20.43 million, drawing participation from a growing number of holders and signaling sustained demand. Analysts often point out that this combination—strong fundraising, disciplined price progression, and a clear launch price—creates a window where tokens are still considered discounted relative to their initial market entry.
Analyst Price Outlook and Upside Potential
Some analysts are projecting that MUTM could reach $0.35 shortly after launch, driven by a mix of early adoption, development delivery, and potential exchange exposure. From the current presale price of $0.04, a move to $0.35 would represent an increase of approximately 775%.
These projections are largely based on execution rather than narrative alone. Mutuum Finance has already launched its V1 lending and borrowing protocol on the Sepolia testnet, allowing users to test core functionality ahead of mainnet. In addition, the project has completed security audits and continues to roll out updates, which analysts see as key factors in reducing execution risk.
Some market observers also suggest there is a high possibility of listings on major exchanges after launch, as platforms often prioritize projects that demonstrate live infrastructure, audited contracts, and sustained investor demand. Exchange exposure, if it materializes, has historically been a catalyst for increased liquidity and price discovery in the early post-launch phase.
To put the potential upside into perspective, a $2,000 investment at the current $0.04 price would secure 50,000 MUTM tokens. When the token were to reach the $0.35 level discussed by analysts, that position would be valued at $17,500, representing a gain of $15,500 before fees and market considerations.
How Mutuum Finance Works
At its core, Mutuum Finance is designed to generate real utility through decentralized lending and borrowing. Users who supply assets receive mtTokens, which represent their deposit positions and automatically accrue yield over time. These mtTokens can be staked, making holders eligible for dividends paid in MUTM tokens through a buy-and-distribute mechanism funded by protocol revenue.
Borrowers, meanwhile, can unlock liquidity by providing overcollateralized positions rather than selling their assets. This structure allows users to access capital while maintaining exposure to their holdings, a model widely used across DeFi but refined in Mutuum Finance through automated risk controls and transparent on-chain tracking.
Expansion and Ecosystem Growth
Beyond launch, Mutuum Finance’s roadmap includes several developments aimed at expanding the ecosystem. Plans include multi-chain expansion, allowing the protocol to operate across multiple blockchain networks, and the future introduction of a native overcollateralized stablecoin designed to enhance liquidity and platform utility.
The project is also running a $100,000 giveaway, aimed at rewarding early participants during the presale phase. Entry requirements and tasks are outlined on the project’s website, adding an additional incentive for community engagement while development continues.
For investors searching for the best crypto coin to buy while prices are still low, Mutuum Finance is increasingly part of the conversation. With a token price of $0.04, a confirmed $0.06 launch price, active protocol development, and analyst projections pointing toward higher post-launch valuations, MUTM remains in a phase that many view as an early opportunity.
As always, market conditions can change, but with the presale still open and development milestones already delivered, Mutuum Finance continues to stand out as a project worth watching while prices remain at early-stage levels.
For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://www.mutuum.com
Linktree: https://linktr.ee/mutuumfinance
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Jack Dorsey’s payments company Block Inc. has begun informing hundreds of employees that their roles could be eliminated during annual performance reviews, as the firm undertakes a wider restructuring effort.
As much as 10% of Block’s workforce may be affected, Bloomberg reported on Sunday, citing people familiar with the matter. The company employed just under 11,000 people as of late November, an executive reportedly said at the time.
The potential layoffs come as Block reshapes its operations following a reorganization launched in 2024 aimed at improving efficiency and aligning its product lines. The company is working to more closely link its peer-to-peer payments platform Cash App with its merchant services arm Square.
At the same time, Block is expanding newer initiatives, including its Bitcoin (BTC) mining division Proto and an artificial intelligence project known as Goose.
Related: Cash App plans to unlock stablecoin transactions ’soon’
Block expected to post $403 million Q4 profit
Block is scheduled to release quarterly earnings on Feb. 26, according to Bloomberg. Analysts expect adjusted profit of about $403 million, or 68 cents per share, on revenue of roughly $6.25 billion for the fourth quarter, per the report.
The company last reported third-quarter net income of $461.5 million on $6.11 billion in revenue. Gross profit rose 18% year over year, driven by 24% growth in Cash App and 9% growth in Square, though the stock fell after the release as some performance metrics missed Wall Street expectations.
For the third quarter, Bitcoin generated about $1.97 billion in revenue, down from $2.4 billion a year earlier but still the company’s second-largest revenue stream. Block held 8,780 BTC worth over $1 billion by the end of September, recording a $59 million quarterly valuation loss.
Related: Jack Dorsey urges tax-free status for ‘everyday’ Bitcoin payments
Square launches Bitcoin payments for merchants
In November last year, Square, the payments platform owned by Block, rolled out a Bitcoin payment option, allowing merchants to accept BTC directly at checkout through its point-of-sale terminals. Sellers can process transactions in multiple ways, including Bitcoin-to-Bitcoin and automatic conversion between Bitcoin and fiat currency.
The launch added on earlier tools that let merchants convert a portion of daily card sales into Bitcoin as part of Square’s broader payment and wallet ecosystem. More than four million sellers across eight countries use Square.
Magazine: Bitget’s Gracy Chen is looking for ‘entrepreneurs, not wantrepreneurs’
TLDR:
- Bitso reduces cross-border transfer times from multiple days to near-instant using blockchain technology
- RLUSD provides regulated dollar-denominated stability for volatile Latin American payment corridors
- Platform positions as U.S.-LATAM payout partner as demand for compliant stablecoin solutions expands
- Ripple Payments eliminates multi-hop banking processes, reducing costs and increasing transparency
Bitso accelerates cross-border payments through its deployment of Ripple Payments, XRP and RLUSD across Latin American markets.
The digital asset platform reduces international transfer times from days to near-instant settlement for business clients.
Traditional banking systems previously required multiple intermediaries and extended processing periods. Bitso now delivers faster money movement by leveraging blockchain rails and regulated stablecoin infrastructure for regional payment corridors.
Speed Improvements Replace Multi-Day Settlement Processes
Bitso has transformed its platform to prioritize transaction velocity for cross-border transfers. The company shifted from crypto exchange operations to B2B payment infrastructure.
Legacy payment systems in Latin America typically process international transfers through several correspondent banks. Each intermediary adds processing time and reduces transparency throughout the settlement chain.
Ripple Payments enables Bitso to bypass traditional multi-hop routing entirely. Blockchain technology settles transactions in minutes rather than the standard two-to-five business days.
XRP serves as a bridge currency to accelerate conversions between different fiat denominations. RLUSD provides dollar-denominated stability without requiring traditional banking infrastructure.
The acceleration benefits both remittance flows and commercial payment operations. Businesses previously waited days to receive international payments from partners or customers.
Bitso now completes these same transfers within minutes using distributed ledger technology. Recipients access funds almost immediately after transaction initiation.
Gabriele Zuliani, Head of Growth at Bitso, spoke about the transformation this technology brings. “RLUSD and Ripple Payments let us reinvent how money moves globally: faster, at lower cost, and with far greater transparency,” Zuliani said.
He added that as demand grows in the U.S., Bitso stands ready to serve that demand. The platform aims to become the rail and payout partner for LATAM.
Rapid Blockchain Settlement Powers Regional Payment Distribution
The acceleration strategy addresses specific pain points within Latin American financial markets. Local currency volatility creates urgency around fast, stable settlement options.
Businesses cannot afford to wait days while exchange rates fluctuate during transfer processing. RLUSD enables rapid conversion to dollar-denominated value.
Bitso positions itself as a payout partner capable of distributing funds throughout the region quickly. The platform maintains local market presence across multiple Latin American countries.
This regional footprint combines with blockchain speed to deliver comprehensive payment solutions. Companies can now send payments that reach recipients the same day.
Regulated stablecoin infrastructure supports the acceleration without sacrificing compliance requirements. RLUSD operates within established financial oversight frameworks while maintaining transaction speed.
Traditional compliance processes often slow down international transfers through extended verification periods. Bitso balances regulatory adherence with operational efficiency.
Growing demand from U.S. businesses requires scalable, rapid payment infrastructure for Latin American operations.
Bitso’s blockchain-based approach handles increasing transaction volumes without proportional slowdowns. As cross-border payment needs expand, the platform scales its acceleration capabilities accordingly.
The combination of Ripple Payments, XRP and RLUSD creates infrastructure for next-generation regional money movement.
Bitcoin’s mining difficulty has registered its steepest decline in nearly five years.
The historic drop signals a dual crisis of extreme weather constraints and deepening economic pressure on network operators.
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Bitcoin Mining Economics Crack Amid Falling Prices
According to Mempool developer Mononaut, the network’s difficulty adjusted downward by 11.16% to 125.86 trillion (T) this week.
Notably, this adjustment marks the largest capitulation in mining power since July 2021. At the time, a state-mandated ban in China forced a massive exodus of hashing power.
The difficulty adjustment mechanism is designed to keep Bitcoin block production at steady 10-minute intervals.
When miners go offline, block times slow, prompting the protocol to lower the difficulty to make mining easier for the remaining participants.
Unlike the geopolitical shocks of 2021, the current decline is driven by a collision of meteorological instability and thinning profit margins.
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The sharp contraction follows severe winter storms across North America in late January, which disrupted energy grids serving major mining clusters.
In jurisdictions such as Texas, miners participate in “demand response” programs. These operators voluntarily reduce their power consumption during peak load periods to help stabilize the grid in exchange for energy credits.
However, the magnitude of this 11% drop suggests more than just temporary curtailment. It points to economic capitulation.
The severe weather stressed the electrical infrastructure, spiking spot power prices.
For operators running older, less efficient hardware, the surge in operating expenses likely pushed profitability into negative territory. This financial strain led to a permanent or semi-permanent shutdown of rigs.
Notably, available data suggest that major industry players were already operating with exceptionally thin margins before the storms hit.
Ki Young Ju, CEO of the analytics firm CryptoQuant, estimated that Bitcoin miner Marathon Digital spent approximately $67,704 to mine a single BTC in the third quarter of 2025.
With BTC trading below $70,000, several miners are operating at a loss before accounting for other general expenses.
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This article was originally published as ARK Invest Sells $22M Coinbase Shares, Buys Bullish Across ETFs on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.
Has ADA finally bottomed after dumping below $0.23 or is there more pain ahead?
Cardano’s native token is once again under heavy pressure, alongside most of the market. However, while BTC and most other alts crashed to their lowest levels since the US presidential elections in late 2024, ADA went even further, dropping to $0.222 (on Bitstamp and other exchanges) for the first time since June 2023.
Despite recovering slightly to $0.27, the token is still 34% down monthly. Moreover, it has plunged by 80% since its cycle top at $1.33 marked in late 2024. Consequently, we asked ChatGPT and Gemini whether the worst is behind ADA or if there is more pain around the corner.
ChatGPT Says…
ChatGPT began with some harsh words for Cardano investors, suggesting that the decline to the $0.22 area is “not just another routine dip.” Instead, it believes it represents a “structural breakdown of long-term support, confirming that sellers remain firmly in control.” This was proven after the asset plunged below key support levels at $0.40, $0.30, and even $0.25 (which was later reclaimed, though).
What could spell further trouble for ADA looking ahead is that these consecutive price drops suggest that “the buy-the-dip demand has steadily weakened” lately. As such, all eyes have now turned to the $0.20 support, which has become the “line in the sand.”
If ADA is to fall below that psychological level, the most realistic target during the ongoing bear phase would be a dip to $0.15-$0.16. However, ChatGPT outlined a more extreme capitulation scenario, in which the token plummets to $0.10-$0.12.
“While this may sound shocking, large-cap altcoins have historically lost 80-90% from cycle highs during severe downturns. ADA is not immune to that pattern,” it concluded.
Gemini’s Take
Dumping below $0.30 meant that ADA’s daily chart has turned into a “falling knife,” said Gemini. This breakdown below the multi-year support was the “final nail in the coffin for many long-term holders.” On its way down, the asset dumped below its 200-day MA (at around $0.45), and it obliterated millions in leveraged longs. Gemini’s “nightmare” scenario envisions a drop to even below $0.10 if certain factors align in an adverse manner:
“If Bitcoin capitulates to $55K in the coming weeks, ADA risks losing its status as a “major” altcoin. A breakdown below $0.15 opens a liquidity vacuum all the way down to $0.09. While this sounds impossible, remember that “impossible” things happen regularly in crypto winters,” it warned.
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Two teenagers from California are facing serious felony charges after authorities say they traveled hundreds of miles to carry out a violent home invasion in Scottsdale, Arizona, in a bid to obtain cryptocurrency believed to be worth $66 million.
Key Takeaways:
- Two California teens allegedly traveled over 600 miles to carry out a violent home invasion targeting $66 million in cryptocurrency.
- Police arrested the suspects shortly after they fled the scene and recovered restraints and a 3D-printed firearm.
- Investigators say unknown contacts on an encrypted messaging app directed the plot and funded supplies.
According to court records cited by local media, the 16- and 17-year-old suspects drove more than 600 miles from San Luis Obispo County and arrived at a residence in the Sweetwater Ranch neighborhood on the morning of Jan. 31 wearing delivery-style uniforms resembling those used by shipping carriers.
Investigators say they forced entry into the home, restrained two adults with duct tape and demanded access to digital assets.
One victim denied holding cryptocurrency, after which the confrontation escalated into physical assault.
Police Stop Suspects After Violent Home Invasion Attempt
Police were alerted when an adult son elsewhere in the house called emergency services. Officers arriving at the property found a struggle underway and one victim screaming.
The suspects fled in a blue Subaru but were stopped at a dead end shortly afterward.
Authorities recovered zip ties, duct tape, stolen license plates and a 3D-printed firearm without ammunition. It remains unclear whether the weapon was functional.
Both teens were initially placed in juvenile detention but prosecutors intend to try them as adults. Each faces eight counts including kidnapping, aggravated assault and burglary, while the older suspect also faces an unlawful flight charge.
They were later released on $50,000 bail and fitted with electronic monitoring devices.
Investigators say the younger suspect told police the pair had recently met and were directed by unknown individuals communicating through the encrypted messaging platform Signal.
The contacts, identified only as “Red” and “8,” allegedly supplied the address and sent $1,000 for disguises and equipment purchased at retail stores.
The suspect also claimed he had been pressured into participating after being invited on a trip to “tie people up” for access to cryptocurrency.
Wrench Attacks on Crypto Holders Rise Sharply in 2025
The case reflects a broader rise in so-called wrench attacks, physical assaults aimed at forcing crypto holders to hand over private keys.
Security researcher Jameson Lopp’s public database lists roughly 70 such incidents in 2025, a sharp increase from the previous year.
The Scottsdale attack is the first recorded US case of 2026, though many incidents are believed to go unreported.
Security analysts say criminals are increasingly using leaked personal data to identify targets and recruiting young perpetrators online to reduce traceability.
A recent industry breach involving customer identity information has been cited by investigators as a factor increasing exposure risks.
Authorities have not linked the incident to separate cryptocurrency ransom demands reported the same day in Tucson, about two hours away.
The post Two High Schoolers Charged in Arizona Home Invasion Targeting $66M in Crypto appeared first on Cryptonews.
Milwaukee Bucks forward Giannis Antetokounmpo has taken a stake in prediction market platform Kalshi, marking the first time an active NBA player has directly invested in the federally regulated event-contracts exchange.
Key Takeaways:
- Giannis Antetokounmpo became the first active NBA player to invest directly in prediction market platform Kalshi.
- Kalshi offers federally regulated “yes-or-no” event contracts across sports, politics and entertainment.
- The deal follows growing scrutiny over the blurred line between trading markets and sports betting.
The two-time NBA MVP announced the partnership Friday, saying he will join Kalshi as a shareholder and collaborate with the company on live events and marketing campaigns.
Kalshi confirmed the agreement in a statement, adding that Antetokounmpo will not be allowed to trade on any NBA-related markets due to internal rules prohibiting insider trading and manipulation.
Inside Kalshi’s ‘Yes-or-No’ Prediction Trading Markets
Kalshi operates a marketplace where users trade “yes or no” contracts tied to real-world outcomes.
The platform lists markets spanning politics, entertainment and sports, allowing traders to take positions on events such as award winners or championship results.
Earlier this week, the service even hosted a market on whether Antetokounmpo himself would be traded before the NBA deadline.
Although money changes hands, the platform is treated as a financial exchange rather than a sportsbook.
As a result, Kalshi is permitted to operate across the United States under federal oversight, avoiding the patchwork of state gambling regulations that apply to traditional betting operators.
The NBA’s collective bargaining agreement allows players to promote betting companies under certain conditions, provided they do not advertise wagers on NBA, WNBA or G League games.
Players may also hold passive equity stakes of up to 1% in such businesses. Antetokounmpo’s investment falls within those limits.
“I like to win. It’s clear to me Kalshi is going to be a winner and I’m excited to be getting involved,” Antetokounmpo said.
He is not the first basketball figure linked to the company. Phoenix Suns star Kevin Durant is reportedly an indirect investor through the 35V venture fund he co-founded with agent Rich Kleiman.
The move comes amid heightened scrutiny of sports wagering. US authorities recently filed gambling-related charges involving several basketball figures, and regulators have been examining the expanding overlap between trading platforms and betting markets.
The NCAA previously asked Kalshi to modify wording on its site that suggested an official relationship with the organization.
Kalshi Expands Sports Push With NHL Deal and Athlete Endorsement
Despite the attention, Kalshi has been expanding its sports presence.
The company announced a partnership with the NHL in October and, in January, signed professional golfer Bryson DeChambeau as its first athlete endorser, including appearances and promotional campaigns tied to events in which he competes.
Kalshi has also secured a major media breakthrough after signing a partnership with CNN, making the company the network’s official prediction markets partner while closing a $1 billion funding round at an $11 billion valuation.
Web3 prediction markets have crossed $13 billion in cumulative trading volume, marking a record high even as broader crypto markets cool.
The surge has drawn in major players across tech and finance, including Fanatics, Coinbase, and MetaMask, all of which have recently launched or expanded event-trading platforms.
The post NBA Star Giannis Antetokounmpo Becomes Shareholder in Prediction Market Kalshi appeared first on Cryptonews.
The battle for the fourth position in terms of market cap continues, but this time, BNB has come on top.
The rather calm behavior during the weekend has worked in favor of bitcoin, at least for now, as the asset has steadily climbed above $70,000 after the rejection on Saturday morning.
Most larger-cap altcoins are also in the green, with ETH trading above $2,100 and SOL close to $90. HYPE is among the few alts deep in the red today.
BTC Taps $70K
The previous weekend brought unexpected volatility to the cryptocurrency markets. The largest of the bunch dumped from $84,000 to under $76,000 on Saturday night and tried to recover to $79,000 on Sunday. However, it was stopped there, and the bears resumed control during almost the entire business week.
After initiating several smaller and less painful leg downs, they stepped up on the gas pedal on Thursday, causing another market calamity. In just over 24 hours, they brought BTC to its knees, pushing it from $77,000 to $60,000 on Friday morning, its lowest price in well over a year.
The cryptocurrency rebounded sharply after this massive decline, and bounced to $72,000 on Friday evening and Saturday morning. It couldn’t proceed further and was pushed down to $68,000 yesterday. Now, though, it has jumped to just over $70,000 after a 2.3% daily increase.
Its market cap has reclaimed the $1.4 trillion mark, while its dominance over the alts is just shy of 57% on CG.
BNB Flips XRP (Again)
ETH was among the poorest performers during the crash, dumping from $2,400 to $1,730 in a few days. However, it has recovered almost $400 since then and now sits above $2,100. BNB and XRP continue to fight for the fourth spot in terms of market cap, but Binance Coin has emerged as the winner during the weekend.
Solana’s SOL is up to almost $90, while LTC, LINK, ZEC, and XLM have posted gains of up to 4%. In contrast, HYPE has dropped by almost 5% to under $32.
The total crypto market cap has added another $80 billion since yesterday and is close to $2.5 billion on CG.
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