Was BlackRock involved somehow in BTC’s most recent price slip?
Bitcoin’s price rally that drove the asset to $78,000 yesterday came to a screeching halt after a painful rejection pushed it south by approximately three grand.
Most larger-cap alts are sluggish today, but RAIN has joined them in terms of market cap after a massive surge of over 40%.
BTC Halted at $78K
After peaking at over $82,000 a couple of weeks ago, bitcoin entered a more prolonged downtrend that drove it south hard. It was first pushed below $80,000 by May 16, then the bears initiated a few more leg downs that ultimately resulted in a massive decline to under $74,500 on May 23. This became the cryptocurrency’s lowest price tag in just over a month.
It rebounded almost immediately after Trump said the US and Iran are getting closer to a permanent peace deal. It jumped to $77,500 at the time and, after a brief retracement, spiked to $78,000 yesterday for the first time in several days.
However, reports emerged that the strikes between the US and Iran had resumed instead of a peace deal, and BTC dipped to $76,000. It plunged further to $75,200 earlier today as experts outlined a mind-blowing sale through BlackRock’s IBIT.
Nevertheless, it has rebounded slightly and currently trades close to $76,000 again. Its market cap has slipped to $1.520 trillion on CG, while its dominance over the alts has settled at 58%.
RAIN Outperforms
RAIN is by far the top performer from all top 100 alts today. It has skyrocketed by over 44% as of now and tapped a new all-time high at almost $0.012. ICP and UB have also rocketed by double digits, but nowhere near close – 15% and 10%, respectively.
In contrast, NEAR has plunged by over 8%, followed by ZEC’s 6% decline. CC, ONDO, and WLFI are also well in the red daily. Ethereum has slipped below $2,100, while XRP struggles beneath $1.35. HYPE is close to its all-time high after a 4% daily increase.
The total crypto market cap has defended the $2.6 trillion level and stands about $20 billion above it.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
No Comment! Be the first one.