Bitcoin experienced significant volatility, hitting a seven-month low of $88,400 on Bitstamp before recovering to trade below $92,000. This decline began over a week ago when BTC was rejected at $107,000, leading to a ten-day slide that saw it fall below $100,000 and eventually settle in a weekend range between $94,000 and $96,000.
Ethereum mirrored the downturn, dipping to $2,880 before reclaiming the $3,000 level. Analysts view this rebound as a potential setup for further gains, while BNB hovers near $900 after minor losses.
Amid the broader market decline, several altcoins outperformed. ZEC surged 8% to $675, while ATOM jumped 12% to above $3. Other coins like SOL, HYPE, BCH, and LINK also traded in the green, whereas XRP, TRX, DOGE, and ADA registered mild declines. Pi Network's native token advanced 8-9% on favorable regulatory news.
The total cryptocurrency market capitalization fell by approximately $20 billion to $3.210 trillion, with Bitcoin's dominance holding steady at 57%. Market observers note that Bitcoin's weakness has fueled rotations into select altcoins, creating pockets of strength despite overall volatility.
