Market Overview
Over the weekend, Bitcoin (BTC) managed to defend the $90,000 mark despite recent volatility, while Hyperliquid (HYPE) saw another significant drop. The cryptocurrency market experienced mixed performance, with some altcoins also feeling the pressure.
Bitcoin Performance
Bitcoin’s price has been volatile this week, largely influenced by the Federal Open Market Committee (FOMC) meeting on Wednesday. Anticipation of another interest rate cut by the central bank drove BTC to a new multi‑week high of $94,500 on Tuesday. However, the price retreated slightly before the meeting and dropped to under $89,500 after the Fed announced a 25 basis point rate reduction.
Despite this, Bitcoin has managed to reclaim the $90,000 level and has remained above it since then. The market capitalization of Bitcoin stands at over $1.8 trillion, with its dominance over other cryptocurrencies at 56.9%.
Altcoin Movements
Meanwhile, Hyperliquid (HYPE) and Ethena (ENA) have seen significant drops of 4–5%, bringing their prices to $28 and $0.25, respectively. Ethereum (ETH) has also declined by 3.8%, briefly dipping below $3,100. Other cryptocurrencies like Solana (SOL) and Cardano (ADA) have also seen losses of around 3%, while TRON (TRX), Dogecoin (DOGE), Chainlink (LINK), and Stellar (XLM) have posted losses of 1.5%–2.5%.
In contrast, HASH has seen a remarkable surge of 13.5% to $0.03, and M has also risen by 8% to $1.67.
Total Market Capitalization
The total cryptocurrency market capitalization has decreased by around $40 billion in a day, bringing it down to $3.175 trillion.
Conclusion
The cryptocurrency market is experiencing mixed performance, with Bitcoin defending the $90,000 level while some altcoins see significant drops. Investors should keep an eye on market trends and external factors that could influence prices.
