Bitcoin rose above $87,000 on Monday, marking its highest price since late January, but faced resistance at that level. As of press time, BTC had pulled back to $86,000, with selling pressure preventing a sustained break above $87,300.
The cryptocurrency had struggled earlier in the week following concerns about regulatory developments and geopolitical tensions. After failing to advance on the CLARITY Act vote and amid a US Federal Reserve rate hike, Bitcoin had dropped to a three-week low of $75,000. The asset recovered by Friday, reclaiming $78,000 before pushing past $80,000 on Saturday. Escalations in Middle East and Ukraine-Russia conflicts briefly halted its progress, but Bitcoin resumed its advance on Monday.
Bitcoin's market dominance remained at 59%, with its total market cap above $1.730 trillion. The broader cryptocurrency market added $50 billion in daily value, reaching $2.950 trillion total.
Altcoin Movements
Several altcoins posted notable gains. Hyperliquid's HYPE reached a new all-time high near $100. Ripple's XRP surged past $1.60, reclaiming a key resistance level. Zcash (ZEC) rocketed past $1,600 following a 7% daily surge.
Bitcoin Cash (BCH) and Uniswap (UNI) posted even more impressive gains, benefiting from a CME announcement. BCH jumped over 33%, while UNI rose 16%. AAVE and MNT also moved higher during the period.
Ethereum, BNB, SOL, DOGE, and ADA remained at levels similar to the previous day.
