cryptopotato.com
Following a few consecutive days of charting gains and multi-week peaks, bitcoin’s price movements have finally reversed, and the asset has corrected by around two grand.
Most altcoins have followed suit, aside from $TRUMP, which exploded after it became known that the top 220 holders will have a special dinner with the US president.
$BTC Rally Halts
The past week was quite sluggish for $BTC, as the asset spent most of the time in a tight range between $83,000 and $86,000. All attempts for a breakout in either direction were halted in their tracks.
The weekend was similar, with little to no actual price moves. The situation started to change on Monday morning when $BTC finally broke above the upper boundary and jumped above $87,000. After a brief correction, it went on the offensive once again on Tuesday by surging past $90,000 for the first time since early March.
The gains continued on Wednesday when bitcoin added another four grand and exceeded $94,000 to mark a new multi-week peak. However, after jumping by almost ten grand within a few days and $20,000 since the low on April 7 and 9, $BTC, perhaps expectedly, started to lose some ground.
As of now, the asset trades around $92,000 after losing just over two grand since the local peak. Its market cap has retraced to $1.825 trillion on CG, but its dominance over the alts is well above 61% on CG.
$TRUMP Shoots Up
The biggest news in the cryptocurrency space yesterday came from the US president’s team as the Official Trump ($TRUMP) website stated that the top 220 holders of the meme coin will attend a special dinner with the POTUS. Naturally, the asset’s price skyrocketed as investors rushed to buy it. On a daily scale, $TRUMP is up by nearly 30% but it went even higher yesterday.
In contrast, most other altcoins have turned red today. XRP, DOGE, HBAR, and PEPE lead the pack from the larger-cap alts, while IMX has lost the most value from the mid-caps.
The total crypto market cap has lost around $80 billion since yesterday’s peak to under $2.970 trillion.
