Bitcoin’s breakout attempt over the past 12 hours was halted, sending the asset back to roughly $78,000.
Most large-cap altcoins have held roughly the same positions as yesterday, with the notable exception of TRX, which posted a meaningful gain.
BTC Halted at $79K
After a period of sideways trading last weekend, Bitcoin launched a fresh rally on Monday morning and touched $79,500 for the second time in roughly ten days. The advance was quickly met by selling pressure, however, and bears pushed the price down. By Monday evening BTC slipped below $77,000 and fell to under $76,000 the following day.
Volatility increased around the third FOMC meeting of the year on Wednesday, even though the Fed held interest rates steady as expected. The market first rallied toward $78,000 before retreating to just under $75,000.
BTC then rebounded on Thursday and Friday, helped in part by reports of a new peace proposal from Iran to the United States. The price climbed back to $78,000 and hovered there on Saturday, then ticked above $79,000 on Sunday morning after another proposal arrived in Washington.
That move was short-lived as pessimism from political quarters quickly checked the rally. Bitcoin returned to the $78,000 area, where it has found support and currently remains comfortably above that level. Market capitalization has been largely sideways at about $1.57 trillion, while BTC dominance versus altcoins sits near 58.5%.
XRP Prepares for a Move
Most large-cap altcoins are modestly green today. Ethereum is holding around the $2,300 level, while XRP hovers near $1.40. Despite a lackluster weekly and monthly performance overall, analysts believe XRP may be poised for a significant move, with potential targets around $1.82 to the upside or $1.00 to the downside depending on broader trend direction.
BNB is trading near $620, DOGE around $0.11, and TRX has jumped roughly 3% to about $0.34. Other notable gainers include ZEC and TAO, while HYPE and BCH have experienced the largest declines among major names. ALGO posted the strongest daily increase, advancing approximately 11%.
The total cryptocurrency market capitalization remains subdued, sitting just under $2.7 trillion on CoinGecko figures.