The cryptocurrency market has entered another volatile stretch as Bitcoin briefly plunged to a fresh seven-month low before staging a modest bounce, creating a climate of uncertainty among traders. Analysts observe that BTC’s decline has fueled sharper rotations into select altcoins, while market momentum now hinges on whether Bitcoin can reclaim key psychological levels.
Bitcoin’s trajectory has grown increasingly turbulent. The asset was rejected at $107,000 just over a week ago, marking the start of a ten-day slide that pushed it beneath $100,000 by last Thursday. The inability of bulls to defend crucial supports intensified downward pressure, and Bitcoin’s slump continued as it slipped to $94,000 before settling into a narrow weekend range between $94,000 and $96,000.
Sunday’s renewed bearish push dragged BTC to $93,000, setting the stage for another decline as the new week began. On Monday, Bitcoin dipped below $90,000, carving out a fresh seven-month low. Yesterday’s attempted rebound to $94,000 was swiftly rejected, pushing the asset down to $88,400 on Bitstamp, a price last seen in April 2025. Although Bitcoin has recovered slightly and now trades below $92,000, its market cap remains strained at $1.830 trillion, with dominance steady at 57%.
Ethereum mirrored BTC’s volatility, falling under $3,000 and even touching $2,880 before rebounding to the $3,000 level. Analysts interpret this move as a promising setup for a potential liftoff, while BNB hovers near $900 after slight losses. Meanwhile, XRP, TRX, DOGE, and ADA register mild declines.
Altcoins Show Resilience Amidst Broader Market Downturn
In contrast, several altcoins are bucking the market trend. SOL, HYPE, BCH, and LINK all trade in the green, but the standout performers are ZEC and ATOM. ZEC has surged another 8% to reach $675, while ATOM leads the pack with a 12% jump, climbing above $3. Pi Network’s native token has also advanced 8-9% on favorable regulatory news.
Despite these pockets of strength, overall market valuation has retreated. The total crypto market cap has shed around $20 billion in the past 24 hours, now sitting near $3.210 trillion.