Bitcoin tests $71 mark and BNB surpasses XRP in a more stable weekend.
- Bitcoin is trading at $71.257, up 3% daily.
- BNB regains fourth position by overtaking XRP.
- Altcoins recover after a week of sharp correction.
The more controlled market behavior over the weekend opened up space for a new attempt at Bitcoin consolidation above US$70.000. Currently, BTC is trading at US$71.257,63, registering a 3% increase on the day, a movement that occurs after the rejection observed at the beginning of Saturday and reinforces the search for stability after a week marked by strong selling pressure.
The recent adjustment began the previous weekend, when Bitcoin retreated from $84.000 to levels below $76.000 in a few hours. The attempted recovery on Sunday encountered resistance near $79.000, a limit that was not surpassed. From that point, the market began to operate defensively, with gradual declines throughout the week.
The movement intensified on Thursday, when sellers accelerated orders and triggered a more abrupt drop. In just over 24 hours, BTC fell from $77.000 to $60.000 on Friday morning, reaching its lowest level in over a year. The pullback had a broad impact on cryptocurrencies, reducing liquidity and increasing intraday volatility.
Following this more aggressive move, Bitcoin reacted strongly on Friday, rapidly advancing to the $72.000 region between Saturday night and morning. The difficulty in sustaining this level led to a temporary correction, with the price returning to $68.000. Since then, the gradual recovery has returned BTC to the $71 range, with a daily gain of 3%.
With the recovery, Bitcoin's market capitalization has once again surpassed US$1,4 trillion, while its dominance over altcoins remains close to 57%, indicating that a significant portion of the flow continues to be concentrated in the sector's main asset.
Ethereum also showed improvement after being one of the hardest hit during the downturn. After falling from $2.400 to around $1.730, ETH recovered almost $400 and returned to trading above $2.100, mirroring the relief seen in the broader market.
Among other major cryptocurrencies, the battle between BNB and XRP has once again gained prominence. Over the weekend, Binance Coin took the lead and surpassed XRP in market capitalization. Solana, in turn, advanced to nearly US$90, reflecting the appetite for assets that had suffered more pronounced corrections.
Litecoin, Chainlink, Zcash, and Stellar registered moderate gains, while the HYPE token bucked the trend, falling nearly 5% and trading below $32. In aggregate, the total cryptocurrency market capitalization has increased by more than $80 billion since yesterday, again approaching the $2,5 trillion mark.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Woodward Q4 Earnings Conference: Five Key Analyst Inquiries
TotalEnergies to provide solar power to Google's Texas data centres
5 Insightful Analyst Inquiries from Capital Southwest’s Fourth Quarter Earnings Call
