Bitcoin’s price actions took another turn for the worse over the past several hours as the asset dropped to $93,600 before it managed to recover about a grand.
Most altcoins followed suit with similar price moves, while SUI has emerged as today’s top performer.
The primary cryptocurrency had a strong week last time around as its price finally managed to break out of its prolonged trading range, in which it stood mostly between $93,000 and $95,000. The surge past the latter came on Thursday after another successful retest of the lower boundary.
The bulls drove bitcoin to a new local peak of over $97,000 on Thursday and $98,000 on Friday morning. Naturally, all eyes turned to the coveted $100,000 milestone.
However, there was no such challenge as the bears stepped up. Instead of heading toward a six-digit territory, the cryptocurrency reversed course and started losing value gradually. It slipped back to $96,000 on Saturday and Sunday but the Monday morning Asian trading session brought some more pain as BTC dropped to a May low of $93,600.
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Nevertheless, it has managed to recover some ground and now trades about a grand higher. Its market cap has dropped to $1.880 trillion on CG, while its dominance over the alts is down by 0.2% to 61.5%.
The biggest gainer from the larger-cap alts today is SUI. The asset has risen by over 8% and now trades close to $3.5 after a minor retracement in the past few days. On a monthly scale, though, SUI is up by over 50%.
TAO has jumped by 6% daily and trades above $365, while PEPE, ONDO, LTC, and XMR have gained somewhere around 3-4%.
ETH, XRP, BNB, SOL, DOGE, LINK, and TRX are also in the green, albeit in a more modest fashion, while ADA, LEO, AVAX, and TON have charted minor losses.
The total crypto market cap has shed another $20 billion daily and is below $3.060 trillion now.