Bitcoin Stalls at $78K as UNI Soars to New Heights
Bitcoin (BTC) has settled at $78K after experiencing its best week of the year in mid-August, when it surged past $81,000 on a couple of occasions. However, the bears stepped up and prevented another leg up. The price was affected by the hawkish speech from new Fed Chair Kevin Warsh at Jackson Hole, causing BTC to dip below $77,000. It managed to quickly recover some losses and spent Saturday trading above that level.
The bulls returned on Sunday with a minor increase to $79,000, but another nosedive occurred due to the resumed strikes between the US and Iran. Bitcoin slipped to $77,000 once again on Monday before it rebounded to $79,000. Currently, its market capitalization remains stagnant at $1.560 trillion on CG, while its dominance over the alts is at just under 58%.