Bitcoin Price Recovers $3K, SUI Rockets 10% to $4: Weekend Watch
Main Idea
Bitcoin and altcoins experienced significant price fluctuations, with Bitcoin dropping to a two-week low before recovering, while altcoins like ETH and SUI saw notable gains.
Key Points
1. Bitcoin's price dropped from over $119,000 to $114,500 due to large BTC disposals by Galaxy Digital, but later recovered to above $117,000.
2. Ethereum (ETH) jumped 3.5% to above $3,700, and XRP defended the $3 resistance level.
3. SUI and HBAR saw double-digit gains, with SUI reaching $4 and HBAR above $0.26.
4. The total crypto market cap increased by roughly $70 billion, reaching $3.940 trillion.
5. Analysts suggest that if Bitcoin holds above $116.8K, it could lead to new all-time highs in the coming week.
Description
Bitcoin’s sudden nosedive on Thursday evening and most of Friday has finally stopped as the asset bounced off and recovered three grand from bottom to top. The altcoins are also well in the green today, with ETH jumping back above $3,700 and SUI marking a notable double-digit surge. BTC Reclaims $117K The primary cryptocurrency was in a consolidation phase since July 14, when it hit a new all-time high of over $123,000. In the following ten days or so, it remained sideways around $118,000, with ...
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