Bitcoin experienced sharp price swings over the past 24 hours after Strategy revealed another major Bitcoin sale. Although the announcement briefly triggered a market selloff, the leading cryptocurrency recovered nearly all of its losses by the end of the day.
Meanwhile, most large cap altcoins traded with little momentum. XRP extended its decline after failing to reclaim the $1.15 level, while Dogecoin, Cardano, and Stellar also posted notable losses.
Bitcoin Quickly Bounces Back
Bitcoin fell below $58,000 on July 1 for the first time in nearly two years before staging an impressive recovery. The asset reclaimed the $60,000 level and continued climbing over the following days, maintaining its upward momentum through the weekend.
The rally pushed BTC above $63,500 on Sunday before sellers emerged, dragging the price back below $63,000. Buyers returned on Monday, lifting Bitcoin to around $64,000, its highest level in roughly two weeks.
The rally was briefly interrupted after Strategy announced the sale of more than 3,500 BTC. The news sparked an immediate decline that sent Bitcoin to approximately $61,200 as negative market sentiment spread.
However, the weakness proved short lived. Bitcoin quickly reversed course, surging beyond $64,500 later in the day to establish another local high.
The cryptocurrency has since settled near $63,000, roughly where it traded before Strategy’s announcement. Its market capitalization remains above $1.26 trillion, while its share of the total cryptocurrency market stands at 56.6 percent.
XRP, DOGE, and ADA Lead Altcoin Declines
Most major altcoins managed to hold relatively steady despite the market volatility. Ethereum continues to trade within the $1,750 to $1,800 range, while BNB remains below $580.
XRP slipped another 1.3 percent to around $1.1275, moving further away from the important $1.15 support level after failing to break above it.
Dogecoin and Cardano also recorded losses of between 2 and 3 percent, while Stellar posted one of the steepest declines among the larger cryptocurrencies, dropping more than 5 percent on the day.
On the positive side, Solana, Hyperliquid, Rain, and Zcash registered modest gains. Other tokens including WLFI, Aave, Morpho, and DeXe outperformed the broader market with advances of as much as 8 percent.
The total cryptocurrency market capitalization remains largely unchanged, hovering around $2.24 trillion.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
