Bitcoin Rebounds to $79K as Bulls Steer Crypto Market
The past week for Bitcoin saw some volatility but ended on a strong note. After briefly dipping below $79,000, the bulls stepped up and drove the price back up to over $82,000 for the first time since mid-May. Although it failed to hold that level, the subsequent retracement wasn't too violent, with BTC maintaining $81,000 for several hours.
However, a stronger-than-expected US jobs report on Friday afternoon led to a major leg down, pushing bitcoin under $79,000 by the end of the day. The cryptocurrency rebounded over the weekend and remained close to $79,000, but was rejected at the $80,000 resistance level on Monday morning.
Bitcoin's market cap has risen to $1.590 trillion, while its dominance over the alts is up to 58.8%. Ethereum is also up by over 1% in the past 24 hours and sits above $2,500 once again.