Bitcoin (BTC) Calms Close to $64K, Cardano (ADA) Eyes Recovery: Weekend Watch

Bitcoin’s price tried to break out above $64,000 yesterday, but it was stopped, and it still trades close to that level on Saturday morning.

Most larger-cap alts have posted minor gains over the past day, including ADA and HYPE, both up around 3%. In contrast, XMR has dumped hard.

BTC Calms at $64K

The primary cryptocurrency reacted well to the massive price decline observed during the first week of June, culminating that Friday in a nosedive to $59,100. After dumping to this 19-month low, the asset rebounded and jumped toward $64,000 on June 8.

The controversial developments on the US-Iran war front, which included new attacks against numerous countries in the region, halted bitcoin’s attempted recovery. So did the May CPI numbers, which were the highest in years.

BTC dipped below $61,000 on a couple of occasions during the week, but managed to defend that level and aimed at a more profound recovery. The highest price came yesterday, just hours before SPCX went live for trading on Wall Street, with a surge to almost $64,500. However, the bears intervened, and BTC now trades just under $64,000.

Its market capitalization has climbed to almost $1.280 trillion on CG. Its dominance over the alts, though, has increased further to 56.4%.

BTCUSD June 13. Source: TradingView

XMR Dumps

Ethereum continues to inch closer to $1,700 after another minor daily increase. BNB, XRP, and TRX have marked similar increases of under 1%. DOGE and SOL are up by 1.6%-1.7%, while HYPE has jumped by more than 3% to $59. Cardano’s native token continues with its recovery attempts. The token is up by 3% to well above $0.17 after the recent massacre.

In contrast, XMR has erased all the gains from earlier this week, dropping by more than 12% to $340. NEAR and ZEC are also slightly in the red. In contrast, BEAT, TAO, and ICP have marked substantial gains of up to 11%.

The total cryptocurrency market cap has remained near $2.270 trillion on CG.

Cryptocurrency Market Overview June 13. Source: QuantifyCrypto

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