Bitcoin’s upward momentum slowed after it failed to hold above 79500 dollars, leading to a sharp pullback that erased roughly 3000 dollars in value within hours.
While most major alternative cryptocurrencies recorded losses over the past day, a few outliers stood strong. BCAP and HASH emerged as the top gainers among the 100 largest altcoins, rising by 27 percent and 17 percent respectively.
Bitcoin Faces Resistance at 79500 Dollars
Bitcoin began the previous week on a weaker note, briefly dropping below 75000 dollars before surging to 79500 dollars after news that the United States and Iran had extended their ceasefire agreement. Following that rally, price action turned subdued, with Bitcoin trading within a narrow range between 77000 and 78500 dollars for several days.
The weekend brought limited movement despite geopolitical developments, including the cancellation of a United States delegation trip to peace talks with Iran and reports of a security incident at the White House.
Volatility picked up again on Monday when Bitcoin retested the 79500 dollar level for the second time in under a week. However, it faced rejection once more and quickly fell to around 77500 dollars. A brief recovery to 78250 dollars followed, but selling pressure soon returned, pushing the price down to just under 76500 dollars.
Although Bitcoin has since regained some ground, it continues to trade below 77000 dollars, with concerns that further downside could follow the upcoming Federal Reserve meeting.
At present, Bitcoin’s market capitalization remains under 1.54 trillion dollars, while its dominance over the altcoin market stays above 58 percent.
Pi Network Token Defies Market Downturn
Most large cap altcoins are also trading lower. Ethereum is below 2300 dollars, XRP has fallen under 1.40 dollars, and BNB is struggling to stay above 625 dollars. Other assets like Solana, TRON, and Cardano have also posted mild losses. Meanwhile, Zcash dropped sharply, alongside Monero and HYPE.
One notable exception is Dogecoin, which managed to stay in positive territory.
Pi Network’s native token stood out as the top performer among the 50 largest altcoins, gaining more than 5 percent and approaching 0.60 dollars. Over the past week, it has risen by approximately 11 percent, outperforming the broader market.
Meanwhile, BCAP and HASH recorded the strongest daily gains, climbing to around 106 dollars and 0.0125 dollars respectively.
The total cryptocurrency market has lost over 30 billion dollars in value within a single day, bringing the overall market capitalization down to below 2.65 trillion dollars.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
