Bitcoin is still trying to break through the $113,000 level and managed to fall below $111,500 before recovering to around $113,000. The volatile move was triggered by comments from Fed Chairman Jerome Powell on the weakness of the US economy and perceived asset valuations to be too high.
Despite the BTC price volatility, the market cap remained stable at around $2.24 trillion with a 56.16% dominance over altcoins. However, the overall crypto market fell 0.7% to $3.98 trillion, indicating widespread selling pressure.
Major altcoins mostly followed BTC’s lead. Ethereum (ETH) fell 1% to below $4,200, Solana (SOL) fell 4% to $210, while Hyperliquid (HYPE) plunged 10% to below $44.
Despite the negative market sentiment, several altcoins surged. ASTER stole the show with a 40% gain to around $2.33 after the launch of the new futures exchange. Immutable (IMX) also rose 10% to $0.75.
In addition, Quant (QNT), Sky (SKY), and Pi Network (PI) also recorded small gains. Overall, the crypto market continues to face volatility, but certain altcoins are still able to attract investor interest.
