Bitcoin (BTC) Stopped at $79,000, Hyperliquid (HYPE) Skyrockets in Double Digits: Market Watch

HYPE continues to defy the general market crash, posting another substantial rise over the past 24 hours.

Aside from HYPE and CC, both of which have posted notable gains within the same time frame, most other large-cap alts are quite sluggish.

BTC capped at $79,000

It’s been a rough week for the primary cryptocurrency, and there were little to no indications last Wednesday about how dire the situation could become. It touched $90,000 on Wednesday, but stopped there and began its gradual decline after the US Fed halted interest rate cuts.

Escalating tension in the Middle East was blamed for Thursday’s substantial crash, as BTC fell to a multi-month low of $81,000. It recovered to $84,000 on Friday and early Saturday as the precious metals market crashed, but the situation deteriorated again over the weekend.

In a rather atypical move for a Saturday afternoon and evening, Bitcoin crumbled from $83,000 to $76,000. It regained some traction on Sunday, but on Monday morning it crashed again below $75,000 – the lowest level since April last year.

It bounced back in the following hours to challenge $79,000, where it was stopped and is now below it. The market cap has fallen to $1.560 trillion, while dominance over the alts on CG is up to 57.7%.

HYPE on the run

Most larger-capitalization alts followed bitcoin as it headed south in recent days. Ethereum was hit very hard and fell from over $3,000 to $2,100. Despite the recovery since then, the price is still struggling below $2,300.

XRP, TRX and XLM are slightly in the red, while SOL, BNB, ADA and BCH have made insignificant gains. HYPE stole the show again, rising 19% to $37. CC is the other big winner with an 8% increase to over $0.19.

The total crypto market cap has regained $70 billion since yesterday’s low and is now above $2.7 trillion on CG.