Bitcoin's week-long correction dragged the asset to a new local low of $62,500 before it steadied near $63,000. Chainlink moved the other way, climbing over 5% on the day and reclaiming its $9 support level as several smaller altcoins posted double-digit gains.
The asset's slide finally found a floor just above $62,500, and it now struggles at around $63,000 after a rough week of failed bounces. Chainlink moved in the opposite direction, breaking higher while most other large-cap coins stayed flat.
Bitcoin Stalls Near $63,000
Bitcoin tried to break out on Monday morning but was halted at $65,400, the second rejection at that level in three days. This attempt proved more violent, and BTC dipped to $62,800 within hours. It tried to bounce twice more but was stopped at $64,400 each time, and selling pressure intensified through midweek as bears took control.
The selloff culminated on Friday, when Bitcoin slumped to $62,500 for the first time in 10-11 days. It bounced within the hour but was stopped at $63,200 and now sits near $63,000. Its market capitalization has stalled at $1.260 trillion on CoinGecko, while its Bitcoin dominance, which peaked at 57.3% earlier in the week, has slipped to under 57%.
Chainlink Attempts a Breakout
Analysts have been optimistic about Chainlink's prospects, and the asset is now up over 5% on the day, reclaiming its $9 support level. WLFI is the only other notable gainer among larger caps, while UNI has dropped 5%. XRP, SOL, TRX, HYPE, and RAIN are slightly in the red, while ETH, BNB, and DOGE show only marginal gains.
Smaller Alts Lead Gains
VELVET has entered the top 100 altcoins after soaring 25% on the day and roughly 150% over the past week. ETHFI follows with a 12% daily surge, and OKB rounds out the top three gainers with a 6.5% jump. The total crypto market cap has fallen to under $2.230 trillion on CoinGecko.
Source: CryptoPotato
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