Bitcoin Rejected at $87K Again as Cardano Leads Altcoin Surge

Bitcoin (BTC) once again faced rejection at the $87,000 mark, despite a surge driven by geopolitical developments over the weekend. The cryptocurrency briefly climbed to $87,000 before being pushed back below $85,500, settling around $86,000. This follows a volatile week where BTC reacted sharply to macroeconomic news, including slowing inflation data and a weak US jobs report. The liquidations from the recent dip totaled nearly $600 million, with BTC's market cap now standing at $1.720 trillion and its dominance at 59%.

While Bitcoin struggled, several altcoins posted significant gains. Cardano (ADA) led the charge with an 11% surge to $0.27. Other notable performers included Fetch.ai (FET), which jumped over 15%, and Virtual eSports (VIRTUAL), up 12%. Dogecoin (DOGE) and NEAR Protocol (NEAR) also saw gains of 3.75% and 5%, respectively. Ethereum (ETH) managed to breach the $2,700 resistance, while XRP rose above $1.50.

The overall cryptocurrency market capitalization increased by 1% to $2.930 trillion, reflecting broader altcoin strength. However, a few coins like RAIN and QNT bucked the trend with losses. The market's resilience amidst geopolitical tensions and macroeconomic shifts highlights the diverse performance across different assets.