Bitcoin Hits $87K, Then Rejected Again, as Altcoins Shine

Bitcoin's price has been highly volatile over the past week, hitting a high of $87,000 on Monday morning before being rejected and plummeting to under $85,500. The cryptocurrency's price surge was largely driven by its sensitivity to macro news, including last week's PCE data, which showed slowing inflation.

Despite the rejection, Bitcoin has managed to stabilize and is currently trading at around $86,000. Its market capitalization has reached $1.720 trillion, while its dominance over the altcoin market remains at 59%.

Not all altcoins have been affected by the rejection, however. Cardano's ADA has soared 11% to $0.27, while other notable gainers include FET, VIRTUAL, and ENA, which are up 15%, 12%, and 7.5%, respectively.

The cumulative market capitalization of all crypto assets has gained 1% and is now at $2.930 trillion.