XMR and HASH lead the market gains today.
Bitcoin’s sharp price swings from Thursday and early Friday have faded over the last twelve hours, even as the United States faces a partial government shutdown and precious metals experience unusual market moves.
Most alternative cryptocurrencies remain under pressure. Ethereum continues to post losses, while Monero and CC stand out among large cap assets by moving higher against the broader trend.
Bitcoin Stabilizes Around 83K
Bitcoin was turned away from the 91,000 level last Friday and spent much of the weekend moving sideways near 89,000, despite renewed tariff threats from Donald Trump targeting Canada. The expected pullback arrived late Sunday and early Monday, when BTC dropped to 86,000, its lowest level in five weeks at the time.
On Wednesday, Bitcoin climbed above 90,000 ahead of the first Federal Open Market Committee meeting of the year. It dipped back to 89,000 shortly before the announcement and stayed flat in the hours that followed, as the Federal Reserve chose to pause interest rate cuts.
Rising geopolitical tensions in the Middle East then weighed on the market on Thursday. Within hours, Bitcoin fell sharply to 81,000, marking a two month low. Price action calmed on Friday, allowing BTC to recover to 84,000, even as precious metals sold off heavily.
At present, Bitcoin trades near 83,000. Its market capitalization stands at 1.65 trillion dollars, and its dominance over alternative coins remains at 57.5 percent.
XMR and HASH Surge Higher
The majority of the top 36 non stablecoin alternative assets are trading lower today. Ethereum remains below 2,650 after another three percent daily decline. XRP has fallen to 1.70 following a 2.5 percent drop. ADA, DOGE, LINK, BCH, XLM, ZEC, and AVAX are also down by as much as four percent, while SUI has slid by more than five percent.
Monero and Canton are the clear standouts, posting strong daily gains of around ten to eleven percent. HYPE is slightly higher on the day, as is Pi Network’s native token. After hitting several record lows over the past week, PI has risen by four percent in the last twenty four hours. It briefly reached 0.175 earlier today before easing back to 0.17 at the time of writing.
The total cryptocurrency market capitalization has fallen below 2.9 trillion dollars on CoinGecko, representing a drop of more than 200 billion dollars in just a few days.
