Algorand has dropped by more than 8 percent following its recent rally, with Avalanche and Ethereum Classic also posting notable losses.
Bitcoin’s price made a surprising move upward on Monday morning, climbing to a multi day high above 70,000 dollars before facing resistance and falling by around 2,000 dollars.
Most altcoins have mirrored this movement and are trading lower today, with the exception of a few such as Zcash and another smaller token that managed to record gains.
Bitcoin struggled to maintain momentum near the 70,000 dollar level. The leading cryptocurrency had previously reached 69,200 dollars last week, but sellers quickly took control and pushed it down to 65,600 dollars within a few days. This drop was influenced by rapidly shifting developments related to tensions involving Iran.
Over the weekend, headlines continued to evolve, including new warnings and deadlines issued by Donald Trump, though these events had limited immediate impact on Bitcoin’s price.
The asset traded within a narrow range between 66,000 and 67,000 dollars before surging again on Monday morning. It initially climbed to 69,600 dollars and then briefly touched 70,250 dollars following reports suggesting a possible ceasefire agreement between the United States and Iran.
However, no confirmation of such a development has emerged, and uncertainty remains as the latest deadline regarding the Strait of Hormuz approaches. Concerns persist that further escalation could affect key infrastructure in the region.
After being rejected near its peak, Bitcoin dropped to about 68,400 dollars before recovering slightly to trade close to 69,000 dollars. Its market capitalization stands at approximately 1.38 trillion dollars, with a dominance level of 56.6 percent over the broader altcoin market.
Altcoins, which had posted gains the previous day, have now turned negative. Ethereum has fallen around 1.4 percent and is nearing 2,100 dollars. BNB is approaching the 600 dollar level, while XRP faced resistance at 1.35 dollars.
Other altcoins such as Cardano, Stellar, and Avalanche have recorded some of the steepest declines among major tokens.
On the positive side, Zcash has gained about 5 percent and is trading near 270 dollars. Another token, Morpho, has also performed well, rising around 6 percent to move above 1.60 dollars.
Overall, the total cryptocurrency market capitalization has dropped by roughly 30 billion dollars since yesterday’s peak and now stands at approximately 2.44 trillion dollars.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
