Cryptocurrency markets experienced heightened volatility as bitcoin reclaimed the $79,000 level following a rejection above $80,000 earlier in the week. The broader crypto market capitalization increased by 0.54% over a 24-hour period to reach $2.690 trillion.
Bitcoin previously traded between $77,000 and $79,000 before a price increase pushed it above $82,000 on Friday for the first time since mid-May. However, a stronger-than-expected US jobs report on Friday afternoon triggered a downward movement, pushing the asset below $79,000 by the end of the day. After dipping to $77,600 following a failed attempt to surpass $80,000 on Monday, bitcoin recovered to over $79,000. Its market capitalization rose to $1.590 trillion, and its market dominance stood at 58.8%.
Most large-cap alternative cryptocurrencies also traded in the green. Ethereum held above the $2,500 threshold with a gain of over 1% in 24 hours, while Solana maintained support at $100. HYPE reached a new all-time high close to $90.
Ripple's XRP defended the key support level at $1.40 after slipping below it previously, rising 3.5% to $1.44. Other notable gainers included ZEC, which climbed nearly 10% to $1,240, alongside gains from DOT, ATOM, and LIT. VVV recorded the largest increase among digital assets, jumping by more than 50% over a 24-hour period to trade at $29.
