Hold onto your hats, folks, because HYPE is stealing the show in the mid-cap altcoin world! Meanwhile, Bitcoin is playing a game of “will it or won't it” as it hovers around the $84,000 mark. Despite some daring attempts, it hasn't quite mustered the energy to break out in either direction over the past week.
Most altcoins are taking a nap today, showing little to no movement. But wait, what's that? PI has bounced back with a 9% leap after a recent tumble, and HYPE is soaring with a double-digit surge! It's like a rollercoaster ride and everyone loves a good thrill!
Last weekend was as quiet as a cat nap for BTC, sticking to its current level. That was until a crypto whale decided to stir the pot on Sunday evening, opening a massive short position that sent BTC on a wild ride, swinging up and down by about $1,000.
The start of the business week was also rather uneventful, except for a sudden dip to $81,000 on Tuesday. But like a true champ, BTC rebounded to $83,000 just in time for the year's second FOMC meeting. When the Fed decided to let interest rates be, BTC danced around $83,000 to $85,000, showing off some moves.
Then, in a morning surprise during the Asian trading session, BTC shot past $87,000. But this burst of energy was short-lived, and it slipped back to $83,000 the next day. Now, it's cozying up to the $84,000 spot, gearing up for what might be another calm weekend. Its market cap has climbed to $1.670 trillion, though its dominance over altcoins has taken a slight dip to 58.3%.
Over in the Pi Network corner, their native token hasn't had the best week, plummeting over 30%. But it seems to have found its footing again in the past 24 hours, climbing back up to the $1 mark with an 8-9% rise.
HYPE is once again the star player, jumping up by 14-5% to trade above $16. On the flip side, XRP, BNB, ADA, LEO, TON, and XLM are seeing a bit of red, while ETH, SOL, DOGE, and TRX are enjoying some modest gains.
The total crypto market cap just couldn't break past the $2.9 trillion barrier and is now hanging out about $30 billion shy of the mark. Keep your eyes peeled for more twists and turns in the thrilling world of crypto!
