Bitcoin’s price slipped toward the lower boundary channel of its current consolidation range but managed to bounce off immediately and is now close to the upper one.
Most altcoins continue with sideways action, aside from HYPE and PI from the larger caps, as both have notched impressive gains over the past 24 hours.
BTC Returns to $95K
The primary cryptocurrency broke above $90,000 last Tuesday and hasn’t looked back since. Moreover, it climbed to $96,000 on Friday, which became a two-month high. Thus, it had recovered over $20,000 since the April 7 and 9 lows of under $75,000.
However, the fight between buyers and sellers reached equilibrium at this point as BTC’s price has failed to make a big move in the past week or so. The asset has been stuck in a tight range between $93,000 and $95,000, with very few attempts to break away in either direction.
The past 24 hours saw a price drop to the lower boundary, but that support line held strong, and bitcoin now trades around $95,000 once again. This muted volatility has caused a lot of speculation that BTC is likely to break free soon, with a major move hiding around the corner.
For now, though, BTC’s market cap remains close to $1.890 trillion, while its dominance over the alts is well above 61% on CG.
HYPE Aims at $20
Most larger-cap alts have mimicked BTC’s performance as of late, with little to no moves in either direction. ETH, SOL, DOGE, TRX, and LINK are with minor gains, while XRP, ADA, BNB, SUI, AVAX, and XLM have seen insignificant losses.
HYPE and PI have notched the biggest gains from the larger caps. HYPE is up to $20 after an 8.5% daily surge, while PI has tapped $0.6 after a 5% increase.
VIRTUAL has exploded by 23% over the past day, followed by CRV and FARTCOIN as both have risen by around 10%.
The total crypto market cap has added over $25 billion since yesterday and is up to $3.075 trillion.
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Cryptocurrency charts by TradingView.
