Cardano's ADA jumped almost 11% to $0.27 over the past 24 hours, leading gains among major altcoins even as bitcoin was rejected at $87,000 for a second time in days. Ethereum, XRP, and Dogecoin also advanced, while bitcoin slipped back toward $86,000 after another failed run at the $87,000 level.
Cardano leads the altcoin rally
ADA soared almost 11% to $0.27 in the past 24 hours, gaining the most among the altcoins covered in that window. Ethereum also advanced, jumping just over the key $2,700 resistance level after a minor increase, while XRP rose 1.2% to trade above $1.50. Dogecoin added 3.75% in the same window.
The broader altcoin market also moved higher. NEAR reclaimed the $5 level after a 5% daily increase, and the total crypto market capitalization gained 1% to reach $2.930 trillion.
Bitcoin stopped at $87,000 again
Bitcoin's latest push reversed much as it did earlier in the week, when macro data twice drove sharp but short-lived rallies. Last Wednesday's PCE data, which showed slowing inflation, sent bitcoin from $83,000 to $85,600 within minutes before it reversed back to its starting point. A weak US jobs report on Friday then pushed bitcoin above $87,000 for the first time in ten days, but it crashed below $84,000 within hours, leaving nearly $600 million in liquidations.
Over the weekend, bitcoin found support, climbed past $84,000, and reached $85,000 on Sunday before surging to $87,000 again on Monday morning, despite warnings of escalating tensions in the Middle East. The rejection repeated, and bitcoin dumped to under $85,500 before bouncing slightly to sit close to $86,000. Its market cap stands at $1.720 trillion, with bitcoin's dominance over altcoins holding at 59%.
Source: CryptoPotato
Trading involves risk.
Risk Disclaimer
