Bitcoin's price struggles around the $80,000 threshold continued over the weekend, with the asset dipping below that line on multiple occasions before barely standing above it.
The largest digital asset previously climbed last Tuesday, peaking on Wednesday at nearly $85,000 to mark its highest price tag in two weeks. However, BTC was rejected at the $85,000 resistance level, falling to $83,000 within hours and dropping below $81,000 a day later. After finding some support, the asset faced further pressure from bears over the weekend, dropping below $80,000 on Saturday to a five-week low of $79,100. BTC rebounded above $80,000 but slipped below the level several more times on Sunday.
At press time, Bitcoin remains just above $80,000, bringing its market capitalization down to $1.610 trillion with a dominance of 60% over alternative cryptocurrencies. Additional volatility and uncertainty are anticipated later in the week due to several critical events.
Meanwhile, most larger-cap altcoins remained sluggish. Assets such as Ethereum, Binance Coin, and Ripple's XRP posted minor losses of less than 1%, while SOL, TRX, DOGE, and LINK recorded insignificant gains. ZEC gained 2% to rank as one of the more volatile larger-cap altcoins, whereas privacy coin rival XMR dropped by 2.5%.
QNT stood out by jumping nearly 18% to $221, resuming its recent bull rally with a double-digit surge. ENA followed with a 6.6% increase to over $0.20. The total cryptocurrency market capitalization stood at $2.680 trillion.
