Bitcoin remained sluggish over the weekend, hovering around $80,000 after a volatile week that saw it spike to $82,400 before a jobs report triggered a decline. Altcoins outperformed, with ZEC surging 17% toward $1,200 and ARB skyrocketing 42% to over $0.19. The total crypto market cap held steady at $2.7 trillion.
Bitcoin spent most of the weekend fighting for the $80,000 level without making any major moves. The primary cryptocurrency closed August in the green for the first time in a bear market, surging by over 25% for the month.
An early Monday retracement from $79,000 to $77,000 occurred as the U.S. and Iran resumed strikes against each other. Bitcoin rebounded quickly to $79,000 but was rejected on Tuesday and driven south to under $76,500 by Wednesday.
The bulls then returned in full force, driving the asset to $82,400, its highest price since mid-May. However, the strong U.S. jobs report on Friday led to a major decline, as bitcoin slipped by three thousand dollars after the odds for the Fed to hike rates skyrocketed.
Bitcoin rebounded from the drop to $78,600 and jumped to around $80,000. Its market capitalization is back at $1.6 trillion, while its dominance over the altcoins declined slightly to 59.1%.
Ethereum neared $2,500 again after a 1.75% daily increase. BNB, which touched $770 yesterday, is below $760 now, while XRP defended the $1.40 support.
SOL is well above $100 once again, with similar gains evident from the likes of HYPE, DOGE, RAIN, XMR, LINK, and ADA. Uniswap’s UNI jumped to $7 after a 10% increase.
ZEC surged toward $1,200 for the first time in almost a decade following a major 17% jump. Arbitrum’s native token stole the show, rising by 42% to over $0.19.
The total crypto market cap remains at just over $2.7 trillion after a 0.8% increase since yesterday.
