Bitcoin’s price dipped below $71,000 as geopolitical tensions resurfaced between the US, Israel, and Iran, erasing gains made earlier in the week. In stark contrast, RaveDAO‘s RAVE token continued an astronomical rally, surging over 200% in a single day and reaching a new all-time high near $10, cementing its position as a top-50 altcoin by market capitalization. The broader cryptocurrency market shed over $30 billion in value.
Geopolitical developments have negatively impacted Bitcoin‘s price trajectory. The asset fell to $70,500, its lowest point since the previous Thursday, following comments from US leaders on failed ceasefire talks with Iran and threats of new tariffs.
Meanwhile, RaveDAO‘s native token RAVE has skyrocketed by 3,600% over the past week. It posted an 18% hourly gain to mark a new all-time high, “skyrocketing to $9 today.” This performance is described as occurring “in a highly impressive and hard-to-believe manner.”
Most other major altcoins saw minor daily movements. Ethereum declined 1.5% to trade below $2,200, while BNB remained under $600. XRP held just above $1.32.
The total cryptocurrency market capitalization fell below $2.5 trillion. Bitcoin‘s dominance over alternative cryptocurrencies also decreased to 56.8%.
