Bitcoin experienced significant volatility following the release of U.S. PCE data on September 30, briefly surging to $85,600 before reversing gains and settling at $83,600. The cryptocurrency previously reached $87,000, its highest since late January, but faced rejection and dropped below $83,000. Among altcoins, BTW led with a 35% surge to $1.41, while NIGHT rose 26% to above $0.04 and STX gained 22% to nearly $0.4. Ethereum continued battling the $2,700 resistance level without breaking through, and BNB traded above $765. The total cryptocurrency market capitalization stood at $2.890 trillion, reflecting a modest 1% increase over the past day according to data from CoinMarketCap.
Bitcoin experienced sharp price movements following the release of U.S. PCE data on September 30. The cryptocurrency surged from $83,000 to $85,600 within minutes after the data beat expectations, but quickly reversed course and dropped back to $83,600.
Earlier in the week, Bitcoin had exploded to over $87,000, marking its highest price since late January. The asset faced rejection at that level twice within 36 hours, with the second rejection driving prices below $83,000.
In the days that followed, Bitcoin established a trading range between $83,000 and $85,000. The lower boundary was tested more frequently than the upper boundary, though BTC managed to hold above $83,000 even when dipping below it on several occasions.
Bitcoin enters October with a market capitalization of $1.680 trillion. Its dominance over altcoins remains flat at 58.6% according to data from CoinMarketCap.
Ethereum continues battling the $2,700 resistance level but remains below it. BNB trades above $765, while XRP has dipped slightly below $1.50.
Solana, TRON, Chainlink, RAIN, Stellar, and Bitcoin Cash have posted insignificant losses over the past day. HYPE neared $90 following a 3% increase, and QNT rose above $290 after a similar daily gain.
BTW recorded the most significant move among altcoins, rocketing 35% to $1.41. NIGHT surged 26%, trading well above $0.04, while STX rose 22% to nearly $0.4.
The total cryptocurrency market capitalization stands at $2.890 trillion, up just over 1% since the previous day.
