Bitcoin Stabilizes Above $64K as Markets Await Strait of Hormuz Deal
The crypto market has seen some volatility in recent days, but Bitcoin (BTC) has managed to stabilize above $64,000. This comes as markets await a Strait of Hormuz deal announcement.
Since August began, BTC had tested the $62,000 support on several occasions, but this time it held strong and reclaimed its spot above $64,000. The bulls finally intervened after a dip to $62,200, helping BTC surge to its current price.
Other larger-cap altcoins have seen contracting performances over the past day, with XMR, XRP, and XLM in the red. However, HYPE and ZEC have posted notable gains, with Zcash rising by over 6.5% to $520 and Hyperliquid's token tapping $58.
The total crypto market cap has added another $30 billion daily, reaching $2.260 trillion on CG. BTC's dominance over alts has climbed to over 57%, while its market cap has neared $1.290 trillion.