TRUMP Dumps Hard, Bitcoin Price Eyes $111K: Weekend Watch

Bitcoin’s relatively calm weekend price actions continued as the asset’s most significant gain came with a minor increase to $111,000, where it faced immediate resistance.

Most larger-cap alts are with minor losses over the past day, led by HYPE, BCH, HBAR, ZEC, and TAO.

BTC Stopped at $111K For Now

The primary cryptocurrency began the business week on the right foot, with a price surge to just over $116,000 on Monday. After a minor correction, it spiked above that line again on Tuesday, where it was stopped and pushed south hard.

On Wednesday, BTC had calmed at around $112,000 before the US Federal Reserve cut the interest rates for the second consecutive time in the past few months. Bitcoin reacted with an immediate price drop that drove it south to $110,000 and even lower on Thursday when the asset slipped below $106,500.

The bulls finally stepped up at this point and initiated a leg up that drove BTC up to $111,500. However, that was a short-term rally once again, and bitcoin has been unable to run higher since then. In the past few hours, it tried to overcome $111,000 but to no avail so far.

Its market cap has reclaimed the $2.2 trillion level on CG, while its dominance over the alts has stalled at 58%.

BTCUSD. Source: TradingView

Alts With Losses

As mentioned above, most larger-cap altcoins have marked minor losses over the past 24 hours. BNB, SOL, DOGE, TRX, ADA, XLM, and SUI are slightly in the red, while BCH has dropped by over 4%. HBAR, HYPE, and ZEC have declined by more than 2% daily.

In contrast, ETH, XRP, LINK, and AVAX have posted insignificant gains, while XMR has risen by over 3%, the same as ICP.

The two biggest losers on a daily scale are HASH (-7.5%) and TRUMP (-6.5%). Nevertheless, the meme coin related to the POTUS has jumped by 25% weekly.

The total crypto market cap has increased slightly overnight and is above $3.8 trillion.

Cryptocurrency Market Overview Daily. Source: QuantifyCrypto

The post TRUMP Dumps Hard, Bitcoin Price Eyes $111K: Weekend Watch appeared first on CryptoPotato.