HYPE Skyrockets 25% Daily, BTC Price Struggles Below $88K: Market Watch
Bitcoin’s indecisiveness continues as the asset was stopped once again at $89,000 and now sits over a grand lower.
Most larger-cap alts have performed similarly over the past 24 hours, aside from HYPE, which has skyrocketed by 25% to a multi-week peak.
BTC Back Below $88K
Bitcoin’s actual troubles began last Monday when the Asian stock and most futures markets opened after Trump’s tariff threats against the European Union. In just a few hours, the asset lost over three grand and fell to $92,000. Its painful decline continued in the following days, dropping to $87,200.
After a minor relief rally mid-week, it finally seemed as if the bulls had taken control on Friday, driving the cryptocurrency to just over $91,000. However, that was short-lived, and BTC quickly returned to under $90,000. Moreover, it has not been able to surpass that level since then.
Just the opposite; it nosedived once again on Sunday evening, this time to a new multi-week low of $86,000. It managed to bounce yesterday but was stopped at $89,000 and now sits below $88,000 again. Its market capitalization has slipped to $1.750 trillion on CG, while its dominance over the altcoins remains calm at 57.4%.
BTCUSD Jan 27. Source: TradingView
HYPE Rockets
Most larger-cap alts have posted minor gains over the past day. Ethereum has tapped $2,900 after a modest increase, while BNB is above $880. Ripple’s native token has neared $1.90 but still remains below that key resistance.
SOL, BCH, and XMR are with more impressive gains, but RAIN and ZEC have marked even more substantial increases. Nevertheless, Hyperliquid’s native token has soared by 25% to a multi-week high of well over $27. The other big gainers are PUMP and HASH.
The cumulative market capitalization of all crypto assets has remained relatively sluggish daily, at just over $3.050 trillion on CG.
Cryptocurrency Market Overview Daily Jan 27. Source QuantifyCrypto
The post HYPE Skyrockets 25% Daily, BTC Price Struggles Below $88K: Market Watch appeared first on CryptoPotato.
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