Bitcoin’s price surged to $58,000 on both Monday and Tuesday but was subsequently pushed down by over $1,000.
Most altcoins have mirrored this trend with slight daily declines. However, ICP defied the overall market sentiment with a substantial 12% increase.
### BTC’s Progress Halted
The primary cryptocurrency faced a tough end to the previous business week, dropping over $4,000 on Friday following the US jobs report for August and the growing exodus from spot Bitcoin ETFs. Nevertheless, the bulls managed to halt the descent, preventing it from falling towards $50,000. BTC recovered some of its losses and hovered mostly above $54,000 during the weekend.
Conditions improved on Monday as the asset surged to a multi-day high of $58,000. While potential reasons are still being debated, it touched this level again on Tuesday but ultimately failed to maintain it. The resulting rejection pushed the price down by approximately $1,500, now standing close to $56,500. Its market cap has dipped to $1.150 trillion, with its dominance slightly retracing to 53.6%.
### ICP, AAVE Defy Market Sentiment
Most altcoins posted some gains over the past few days but have mirrored BTC’s performance by turning red since yesterday. Ethereum reached $2,400 yesterday but has since fallen to $2,330. BNB briefly surpassed $520 but has now dropped to $512.
Other coins like SOL, DOGE, XRP, ADA, AVAX, and SHIB have experienced similar or slightly more severe losses. In contrast, AAVE has soared by 9%, reaching $150, and ICP’s daily surge is even more impressive, jumping 12% to $8.7.
The overall market cap of all crypto assets has decreased by $30 billion since yesterday, now standing at $2.080 trillion.
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