Meanwhile, the top two earners of the biggest 100 alts today are HYPE and SKY.
Bitcoin failed once again above $71,000 yesterday after a volatile last session fueled by developments in the Middle East and is now below $70,000.
Most of the larger alts made small gains on a daily basis. ETH managed to protect the $2,000 level, while HYPE rose to $37 after gaining 8%.
BTC is below $70k again
After last Wednesday’s rejection of the monthly high of $74,000, Bitcoin went straight south in the following days. Although it remained around $68,000 over the weekend, it fell to $65,600 on Monday morning when most legacy financial markets opened.
The bulls eventually intervened after that decline, and the asset recovered more than five grand by Tuesday, when it reached about $72,000. However, it failed to sustain the rally and fell to $69,000 on Wednesday. US CPI numbers came out in line with expectations and BTC was relatively still below $70,000.
However, hours later, after the POTUS said there was “practically nothing to target” in Iran, it rose above $70,000 and even $71,000. But that was a short-lived bounce, as bitcoin has since lost $70,000 and is now struggling below it.
Its market capitalization in CG is less than $1.4 trillion, while its dominance over alts is still under 57%.
PI, HYPE, SKY JUMP
Most of the bigger alts remain relatively weak on a daily basis, and the big news comes from ETH, which managed to stay above the coveted $2,000 support. HYPE outperformed its rivals, rising more than 8% daily to reach a local high of $8.50. TAO and SKY are other notable achievements from this group of alts.
Kraken’s original Pi Network token received major adoption news as the veteran exchange said it will allow PI trading until March 13. The asset initially remained flat, but it rose nearly 5% daily to 0.24 minutes ago. It is among the few alts with massive double-digit gains over the past week and month.
The total crypto market cap has remained relatively quiet since yesterday, currently standing at just over $2.450 trillion in CG.
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