XMR recorded the biggest decline over the past 24 hours, shedding 12 percent of its value.
Bitcoin attempted to move above the $64,000 mark yesterday but failed to sustain the breakout. As of Saturday morning, the leading cryptocurrency continues to trade close to that level.
Most large cap altcoins posted modest gains over the past day. Cardano and HYPE each climbed by around 3 percent, while XMR suffered a sharp decline.
Bitcoin Stabilizes Around $64K
Bitcoin responded positively after the steep market downturn seen during the first week of June, which reached its lowest point on Friday when the asset fell to $59,100, its weakest level in 19 months. Following that decline, BTC rebounded and surged toward $64,000 on June 8.
However, escalating tensions involving the United States and Iran, including fresh attacks across several countries in the region, disrupted Bitcoin’s recovery momentum. The release of May CPI data, which came in at its highest level in years, also weighed on market sentiment.
Throughout the week, Bitcoin slipped below $61,000 on several occasions but successfully defended that support level and pushed for a stronger rebound. Its highest point came yesterday, just hours before SPCX began trading on Wall Street, when BTC climbed to nearly $64,500. The rally was short lived as sellers regained control, leaving Bitcoin trading slightly below $64,000.
Bitcoin’s market capitalization has risen to nearly $1.28 trillion according to CoinGecko. Its dominance over the broader altcoin market has also strengthened, reaching 56.4 percent.
XMR Leads the Losses
Ethereum continued its gradual advance toward $1,700 after posting another small daily gain. BNB, XRP, and TRX also registered increases of less than 1 percent. DOGE and SOL gained between 1.6 and 1.7 percent, while HYPE rose more than 3 percent to reach $59.
Cardano continued its recovery efforts, climbing 3 percent to trade comfortably above $0.17 following its recent selloff.
In contrast, XMR erased all of the gains it had accumulated earlier in the week, plunging more than 12 percent to $340. NEAR and ZEC also traded slightly lower. Meanwhile, BEAM, TAO, and ICP posted notable gains of as much as 11 percent.
The total cryptocurrency market capitalization remained relatively stable at approximately $2.27 trillion, according to CoinGecko.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
