Bitcoin Corrects, Hype Hits New All-Time High Amid Crypto Market Volatility
Bitcoin's (BTC) surge to $80,000 on Friday was followed by a correction over the weekend, dipping as low as $75,500 before recovering to around $76,500. The largest cryptocurrency had been primed for a pullback after skyrocketing 25% in less than 48 hours.
Hype (HYPE) continued to defy expectations, however, reaching a new all-time high of over $82. Other altcoins fared worse, with Ethereum dipping below $2,400 before recovering, and XRP falling below $1.50 after being rejected at $1.70.
The market cap of all crypto assets has declined by around $100 billion from its local peak but remains up by $400 billion since Wednesday. The correction was expected, with some assets experiencing significant losses, including TRUMP, which plunged 33% from top to bottom after the team behind the token sent more coins to exchanges.