Bitcoin delivered another quiet and uncertain performance over the weekend as the asset briefly fell below 67,000 dollars earlier today for the first time since Tuesday.
Most alternative cryptocurrencies also recorded losses during the same period. Ethereum moved further away from the key 2,000 dollar level, while Cardano and Monero each declined by more than two percent. Zcash and Pi Network experienced the largest daily drops.
Bitcoin Battles to Stay Above 67,000
The previous weekend brought sharp volatility to the cryptocurrency market after military strikes by the United States and Israel targeted Iran. Bitcoin initially dropped from 67,000 dollars to about 63,000 dollars. It quickly recovered within the same day and climbed to around 68,000 dollars following reports that the Iranian Supreme Leader had been killed during the attacks.
The upward momentum continued through the middle of the week when Bitcoin reached 74,000 dollars, its highest price in about a month. However, sellers entered the market at that point and prevented further gains.
Instead of continuing higher, Bitcoin began to lose value. The largest decline occurred on Friday after a weaker than expected jobs report from the United States and fresh statements from Donald Trump regarding Iran and Cuba.
The asset slipped again on Sunday and briefly touched about 66,600 dollars, which marked its lowest level since Tuesday. It later recovered slightly and is currently trading close to one thousand dollars higher than that level.
At present, Bitcoin’s market capitalization stands near 1.35 trillion dollars. Its dominance over alternative cryptocurrencies is about 56.6 percent according to data from CoinGecko.
Pi Network Token Pulls Back
The native token of Pi Network recently stood out by rising against the broader market trend. It surged to a three month high above 0.23 dollars yesterday. However, the rally lost momentum at that level, and the token has since fallen sharply to around 0.20 dollars at the time of writing.
Zcash also recorded significant daily losses and is now trading below the 200 dollar mark.
Most other large capitalization cryptocurrencies are also trading lower, although their declines are more moderate. Ethereum has clearly fallen below the 2,000 dollar level after another small drop, while BNB has moved down to around 620 dollars. Solana, XRP, Cardano, Monero, and Chainlink have also posted losses today.
The overall cryptocurrency market capitalization has declined by about 30 billion dollars over the past day and now sits below 2.4 trillion dollars, according to data from CoinGecko.#cryptonews https://t.me/coinsignalpublic https://coinsignals.net
