Bitcoin experienced a volatile period over the weekend, ultimately settling around $84,500 after a brief surge was halted by a sharp market correction. The business week initially saw BTC slip below the $83,000 support level before bulls mounted a defense. Mid-week inflation data and a subsequent weaker-than-expected US jobs report on Friday briefly pushed Bitcoin past $87,000 for the first time in roughly ten days.
Despite favorable macroeconomic indicators in the labor market, the asset faced a violent rejection and dropped below $84,000 within hours. The rapid downturn triggered nearly $600 million in liquidations. Bitcoin has since rebounded to $84,500, holding a market capitalization of $1.69 trillion and a dominance rate of 59%.
Broader Altcoin Market Declines
The wider altcoin sector struggled alongside Bitcoin, pushing the total cryptocurrency market capitalization down by almost 2% to $2.880 trillion. Ethereum lost the $2,700 support level, and XRP slipped below $1.50 following a 3.5% daily decline. Additional notable losses were recorded by ZEC, which fell over 5% to sit just above $1,300, as well as DOGE, LINK, ADA, RAIN, XLM, and NEAR. Meanwhile, PENGU and LIT also experienced heavy slumps.
QNT and NIGHT Defy the Trend
Despite the widespread downturn across larger-cap and mid-cap assets, select tokens bucked the trend. QNT posted a 13% daily surge to push well past $260, resuming its recent upward run. NIGHT mirrored that performance, climbing by a similar percentage to reach $0.50.
