The weekend’s calm was interrupted by significant fluctuations around the $84,000 level due to large short positions on Hyperliquid. Today, most altcoins are experiencing slight declines, but BNB has surged over 6%, while PI has dropped nearly 10%.
Bitcoin has been experiencing volatility near $84K. The previous week was marked by significant fluctuations, beginning with a drop from $86,000 to $80,000 on Monday. After briefly recovering to $84,000, BTC fell again on Tuesday to a four-month low below $77,000. Following a $9,000 drop in under two days, BTC rebounded to the $80,000 mark. It continued to rise in the following days, notably surpassing $85,000 on Wednesday after favorable US CPI data. However, this rally was short-lived as it fell back to $80,000, before bouncing back to $84,000 during the weekend, with brief movements to $85,000 and a dip to $82,000 due to a significant $366 million short on Hyperliquid. Currently, BTC is just under $84,000 with a market cap of $1.655 trillion, maintaining a 58.6% dominance over altcoins.
Among the major altcoins, Binance Coin stands out with a rise of over 5%, trading above $630. Meanwhile, most other altcoins are down, with ETH, XRP, ADA, and TRX falling by up to 1%, SOL dropping over 3.5%, and PI plummeting by 10% to below $1.35. OKB and MNT have seen gains of 5-6%, while TRUMP has decreased by 3%. The overall crypto market cap has decreased by over $20 billion since yesterday, now sitting below $2.830 trillion.
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