Arbitrum's ARB token stole the spotlight this weekend with a 42% daily surge, pushing its price above $0.19. The rally was part of broader altcoin strength, though Bitcoin remained relatively subdued near key resistance levels.
Bitcoin's Weekend Struggle
Bitcoin continued to defend the $80,000 level over the weekend without making significant moves in either direction. The cryptocurrency had climbed to $82,400 earlier in the week—its highest price since mid-May—but pulled back after Friday's strong US jobs report raised expectations for potential Federal Reserve rate hikes.
Bitcoin slipped to $78,600 following the jobs data before rebounding to around $80,000, where it spent most of the weekend. Bitcoin's market capitalization stood at $1.6 trillion, with its dominance over altcoins at 59.1%.
Altcoin Gains
Beyond Arbitrum, Zcash led additional gains with a 17% daily increase, approaching $1,200 for the first time in nearly a decade. Ethereum neared $2,500 with a 1.75% daily gain, while Uniswap's UNI token jumped 10% to $7. Solana held above $100, and other tokens including Dogecoin, Cardano, and Chainlink posted similar gains.
The total cryptocurrency market capitalization remained just above $2.7 trillion, up 0.8% over the period.
