Bitcoin’s price briefly surged to $64,000 earlier today, marking a two-week high, before facing immediate resistance and retreating by more than $1,000. The rejection left the leading cryptocurrency trading below $63,000, underscoring the fragility of its recent recovery.
The rally followed a brutal June that saw Bitcoin drop 20%, its worst monthly performance in exactly four years. July began with a dip below $58,000 for the first time since October 2024, but buyers stepped in, pushing the asset back above $60,000 in a gradual climb that continued over the weekend. The momentum, however, stalled exactly at the $64,000 level.
Bitcoin’s market capitalization now sits just under $1.260 trillion, with its dominance over altcoins remaining above 56%. Most large-cap alternative cryptocurrencies showed little movement, with ETH, BNB, SOL, XRP, and TRX posting marginal gains, while ZEC and ADA declined by around 2%. HYPE and XLM led the gains among larger alts, rising 2.5% and 3.6%, respectively. Mid-cap altcoins DEXE and LIT stood out with double-digit surges, and LIT secured a spot in the top 100 tokens by market cap.
In stark contrast, Pi Network’s PI token continued its decline and now trades within just 1% of its all-time low, reached in late June. The token’s price remained well below $0.115, making it the weakest performer in the current market landscape. The broad sideways movement in altcoins and Bitcoin’s swift rejection at resistance suggest cautious sentiment among traders, with no clear conviction in either direction.
