Bitcoin’s price action saw a dip on Monday night as its value dipped to $107,500, but the asset managed to recover most of its losses shortly after.
Meanwhile, altcoins have generally performed negatively over the past 24 hours, including HYPE which recently hit an all-time high (ATH), but is now losing momentum.
History was made on Wednesday when, after several days of price volatility and rejection below $107,000, the major cryptocurrency managed to break through resistance and surge past its January 2025 high of around $109,100. BTC hit $109,800 on the day before being pushed down by around $3,000.
However, the correction was temporary as buyers regained control of the market and drove a rally higher on Thursday in celebration of “Bitcoin Pizza Day”. At that time, BTC surged to almost $112,000 and hit a new high.
President Trump’s proposed tariffs on the EU on Friday added to the market pressure and uncertainty, causing BTC to fall to $107,500. However, the price managed to stay above that level throughout the weekend.
On Monday, Bitcoin returned to positive momentum and surged to a daily high of $110,500, before falling back to $107,500 overnight.
BTC has now recovered most of its losses and is trading around $109,500. Bitcoin’s market cap remains at nearly $2.180 trillion on CoinGecko, with altcoin dominance at 61%.
Most altcoins have seen some declines since yesterday, including HYPE which has fallen 3.5% after hitting its recent ATH. SUI also declined by the same amount, while XRM and PI were down 5.5% and 4.3% respectively.
Ethereum remained steady at $2,600 after gaining nearly 2% since yesterday. BNB and TRX also posted modest gains.
QNT emerged as the leader of double-digit gains among the top 100 altcoins, followed by TKX and VIRTUAL with 7% gains, and INJ with 6%.
The total crypto market cap remained almost the same as yesterday, at around $3.570 trillion.
