ARB Skyrockets by Double Digits Again, BTC Recovers From Drop to $76K: Market Watch
Following the latest escalation in the Middle East war, bitcoin’s price dipped toward $76,000 yesterday for the first time in almost two weeks before rebounding today.
Most larger-cap alts have posted some gains over the past day, with XRP climbing to over $1.35 and BNB tapping $700. ETH still fights for $2,400.
BTC Rebounds
The breakout from a couple of weeks ago drove the primary cryptocurrency from under $65,000 toward $80,000 within days. After hitting some resistance there at first, BTC finally managed to surge past that level last week, jumping to $81,200 and $81,500 on a couple of occasions.
However, the bulls were too exhausted and couldn’t continue driving the asset north. Instead, bitcoin dropped to $77,000 last Friday after Kevin Warsh’s hawkish speech at Jackson Hole.
Nevertheless, the cryptocurrency managed to recover some ground during the weekend and touched $79,000 on Sunday. It dipped back down to $77,000 on Monday after the strikes in the Middle East resumed, rebounded to $79,000 and closed the month in the green, and dropped once again yesterday to $76,200 – its lowest price tag in 10 days.
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