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Following the Friday price slip and the calm weekend, bitcoin’s price has recovered to roughly $110,000 after US President Trump paused the tariffs against the EU, which were supposed to start from June 1.
The altcoins have turned green as well, and HYPE continues to lead the larger caps following yet another new all-time high at almost $40 today.
BTC Bounces to $110K
The primary cryptocurrency went through some volatile periods at the beginning of the previous business week when it challenged the $107,000 region on a couple of occasions but was stopped on Sunday and Monday. However, the bulls managed to penetrate that level on Wednesday when they actually pushed the asset above $109,100 to mark a new all-time high at almost $110,000.
After another violent but brief rejection, BTC skyrocketed once again on Thursday (Pizza Day) and tapped $112,000 to chart its latest all-time high.
It stood close to that level for the next 24 hours but Friday’s statement by the POTUS, in which he recommended new tariffs against the EU, caused an immediate shock in the market that drove BTC south to under $107,500.
It remained around that level for most of the weekend, but Trump paused the tariffs for at least another month, which sent bitcoin higher again. During today’s Asian trading session, the cryptocurrency jumped to and slightly above $110,000 and sits close to that line now.
Its market cap has recovered to $2.180 trillion on CG, while its dominance over the alts stands tall at 61.1%.
HYPE’s Show Continues
Not even an exploit against the project’s official X account can deter HYPE’s one-way trip north as of late. The asset continues to pass through obstacles and chart fresh peaks, with the latest coming earlier today at almost $40. HYPE is up by more than 12% in the past day, even though it has retraced slightly since that ATH.
On a daily scale, HYPE has been outperformed only by JUP, VIRTUAL, and FET. Other notable gainers from the larger-cap alts include AVAX, ADA, UNI, TAO, APT, ICP, ETH, SOL, and DOGE.
The total crypto market cap has regained almost $80 billion since yesterday and is above $3.570 trillion on CG.
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Cryptocurrency charts by TradingView.
