SUI Jumps by 9% Daily, BTC Price Recovers $5K (Weekend Watch)

Bitcoin’s price tumbled below $100,500 yesterday, but the bulls managed to defend that level, not allowing a price slip into five-digit territory.

Many altcoins have posted impressive gains over the past 24 hours following yesterday’s correction, led by a substantial pump from SUI.

BTC Recovered $5K

The business week started on the right foot for BTC, which jumped to $106,500 on a couple of occasions on Monday and Tuesday. However, it saw little success there, and the subsequent rejections pushed it south by about two grand.

It jumped once again on Thursday after the ECB cut the interest rates to 2%, but was halted at $106,000. The online spat saga that transpired between the former allies, Elon Musk and Donald Trump, further intensified the sell-off and BTC dumped hard to $100,400 (on Bitstamp).

The bulls finally stepped up at this point and prevented another decline. Just the opposite, bitcoin started to recover and jumped to $105,500 in midday trading on Friday. It couldn’t continue upward and now sits below $105,000, but it’s still 2% up on the day.

Its market cap has recovered to $2.080 trillion, while its dominance over the alts stands tall at 61.5% on CG.

SUI Bounces Hard

Most altcoins tumbled on Friday but have posted impressive gains on a daily scale. Still, Ethereum continues to struggle below $2,500 following a minor jump. RP has recovered to $2.17 after a 2% increase, and similar gains are evident from BNB, SOL, DOGE, and ADA.

SUI has emerged as today’s top performer, having surged by almost 9%. It now trades above $3.25. In contrast, HYPE has marked a slight decline of around 2% and is below $34 as of press time.

The total crypto market cap has added over $50 billion since yesterday’s low. Consequently, the metric is now north of $3.380 trillion on CG.