NEAR led daily gains with a remarkable 15 percent jump, reaching 1.37 dollars, while MORPHO and ENA also posted strong increases. M was the worst performer, losing about 9 percent.
Bitcoin experienced extreme volatility on Monday. The asset briefly reached a multi‑week high of just over 70,000 dollars before encountering resistance and dropping approximately 3,000 dollars. Larger-cap altcoins mirrored this movement but largely ended the day near their previous levels. HYPE rose by nearly 5 percent to around 32 dollars, while XMR faced notable losses.
Bitcoin Faces Repeated Resistance at 70,000
The volatility began Saturday morning when the United States and Israel launched multiple strikes against Iran, causing Bitcoin to fall from 67,000 dollars to 63,000 dollars. Although Iran responded with regional attacks, Bitcoin quickly recovered to just above 68,000 dollars following reports of Iran’s Supreme Leader’s death.
After legacy financial markets opened, Bitcoin dipped further but stayed above 65,000 dollars. Then, in under an hour, it surged approximately 5,000 dollars from 65,200 to a high of 70,150 dollars on Bitstamp. The rally occurred ahead of former President Trump’s speech on the Iranian situation, in which he stated the U.S. maintained control but cautioned that the conflict could continue for weeks. Bitcoin encountered resistance once again at 70,000 dollars, retraced to 68,500 dollars, and has recently dropped below 66,500 dollars. Its market capitalization now sits at 1.33 trillion dollars, with a dominance of 56.4 percent over altcoins according to CoinGecko.
Altcoins Show Mixed Performance
Ethereum surpassed 2,000 dollars yesterday but could not hold the level and currently trades near 1,950 dollars. BNB approached 650 dollars but failed to break through, while XRP declined from 1.45 to 1.35 dollars. Among larger-cap altcoins, ADA, XMR, DOGE, HBAR, and XLM suffered the greatest losses. HYPE performed strongly, gaining nearly 5 percent.
The overall cryptocurrency market capitalization has dropped by almost 100 billion dollars since yesterday, now totaling approximately 2.36 trillion dollars.
NEAR clearly emerged as the top performer, with MORPHO and ENA following, while M lagged behind.
