JUP and HYPE are among the top performers in the past 24 hours, soaring by double digits.
Bitcoin’s price went through some intense volatility on Saturday after the attacks on Iran and the subsequent retaliation, but has returned to essentially its starting point.
Many altcoins plummeted hard yesterday but have followed BTC on the way up, with ETH trading close to $2,000 and XRP taking back the fourth spot in terms of market cap from BNB.
The previous business week began with a leg down, with bitcoin dropping from $68,000 to just over $64,000 after the most recent tariff developments. It dipped further on Tuesday to a multi-week low of $62,500 before it bounced off hard on Wednesday, tapping $70,000 for the first time in about eight days.
However, this rally seemed doomed, at least according to many analysts, and BTC indeed began to lose value almost immediately. The cryptocurrency fell by a few grand but remained sideways around $68,000 for the next few days. Saturday began with a bang (literally for several countries in the Middle East) when the US and Israel first attacked Iran, which retaliated against Saudi Arabia, the UAE, Bahrain, and Qatar.
BTC slumped from $67,000 to $63,000 within hours of the initial attacks. However, it rebounded hard to over $68,000 later during the day after reports that Iran’s Supreme Leader was killed in the attacks. It was stopped there, though, and now trades below $67,000.
Its market cap has returned to $1.335 trillion, while its dominance over the alts stands inches above 56%.
Most altcoins have reacted well to yesterday’s calamity. Ethereum is back to $2,000 after a 7.5% surge on a 24-hour scale. BNB is up to $622, but XRP has reclaimed the fourth spot in terms of market cap after an 8% surge to almost $1.40.
SOL, DOGE, ADA, and LINK are up by 7-9%, while HYPE has stolen the show from the larger caps with a 15% surge to $31. JUP, NEAR, and PUMP are the other double-digit gainers on a daily scale.
The total crypto market cap has recovered about $100 billion in a day and is close to $2.4 trillion on CG.
