BTC Recovers Swiftly and Eyes $79K Again, XMR Surges Above $500: Market Watch

Bitcoin began the new business week with a dip below $77,000 as geopolitical tensions in the Middle East escalated amid new attacks, but has since managed to shrug off the losses.

The same cannot be said about most larger-cap alts. ETH is still struggling at $2,500, while BNB is below $700. XRP has seemingly lost the $1.40 support. XMR is among the few exceptions.

BTC Rebounds

After gaining $15,000 in 48 hours, bitcoin was due for a correction last weekend and dropped below $75,500. However, the bulls quickly resumed control of the market and initiated a couple of major legs up as the previous business week progressed, driving the asset to $81,000 and $81,500, respectively.

This meant that BTC had reached its highest price tag in over three months. However, its attempt on Thursday was met with a sharp rejection, perhaps due to the hawkish stance taken by Fed Chair Kevin Warsh during the Friday speech at Jackson Hole, and bitcoin slumped to under $77,000.

It managed to rebound over the weekend and even climbed past $79,000. However, then came the new attacks in the Middle East, and the cryptocurrency dipped to just under $77,000 on Monday morning.

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