Bitcoin price failed to break the $89,000 resistance level and is now about $2,000 lower.
Several altcoins such as DOGE and ADA have recorded significant gains in the past 24 hours.
Last week, on Tuesday, BTC price struggled to stay above $81,000 after a daily drop of $3,000. However, BTC managed to hold onto that level and surged above $87,000 a day later after the second FOMC meeting of the year and the announcement of Brad Garlinghouse’s victory in the lawsuit between his company and the SEC.
However, Bitcoin failed to sustain this rise and fell back to around $84,000, where it remained for several days. The first signs of recovery appeared late Sunday when BTC began to regain momentum. The rise peaked on Monday when BTC surged close to $89,000, but failed to break through that level.
BTC then dipped below $87,000 but has now bounced back above that level. Bitcoin’s market cap rose above $1.730 trillion, but BTC’s dominance over altcoins has dwindled to 58.3% on CG.
The biggest news in the crypto community over the past 24 hours came from Crypto.com. The exchange announced a partnership with Trump’s media company, Trump Media and Technology Group (TMTG), to launch several ETFs and ETPs. Following the announcement, the price of CRO jumped by as much as 40% at one point.
Dogecoin is also in the green today, albeit with a more modest increase of around 6%, taking it above $0.185. ADA, SOL, BNB, LINK, XLM, HBAR, and SHIB also posted small gains.
On the other hand, ETH, XRP, TRX, TON, and LEO saw slight declines.
The total crypto market cap remained virtually unchanged at $2.970 trillion on CG.
