Bitcoin was once again capped at $81,000 yesterday, then dropped more than $2,000 within a few hours to a 10-day low below $79,000 before managing a modest rebound.
Most large-cap altcoins are trading lower today: SOL is down over 4%, UNI has fallen about 5%, and ICP plunged roughly 9%.
BTC Below $80K
The leading cryptocurrency saw notable volatility early in the previous business week. It dipped to $78,250 before rallying to nearly $83,000 on Wednesday, its highest level in more than three months. That advance stalled, and the price slipped to $79,500 by Friday.
Bitcoin recovered to $80,000 over the weekend. Bulls pushed hard on Monday, driving an impressive run toward $82,500, but that level proved a strong resistance. After a failed breakout attempt on Tuesday near $82,000, BTC fell below $80,000 following the release of April CPI data.
It bounced back to about $81,250 yesterday but encountered another rejection, which pushed the price down to $78,750 on Bitstamp — the lowest since May 4. Although it has recovered roughly $1,000 since then, BTC remains down about 1.5% for the day. Market capitalization has eased to approximately $1.6 trillion, while Bitcoin’s dominance over altcoins stays above 58% on CoinGecko.
BNB Overtakes XRP
Binance Coin reclaimed the fourth-largest position by market capitalization yesterday and has slightly extended its lead over XRP in the past 12 hours. BNB is up more than 9% over the past month, with a market cap above $90.4 billion. XRP has gained a more modest 4% in the same period, with a market cap near $88.5 billion.
Ethereum has eased about 1.5% to roughly $2,265. SOL has fallen over 4% and is trading just above $91 at the time of writing. Other notable decliners include ADA, HYPE, ZEC, LINK, XLM, XMR, and UNI, while ICP is among the heaviest losers with a daily drop exceeding 9%.
The total crypto market capitalization has declined by more than $40 billion in a single day and sits below $2.75 trillion on CoinGecko.