Uniswap (UNI) Skyrockets 32% Weekly, Bitcoin (BTC) Calms at $78K: Market Watch
After dipping below $77,000 on Monday morning following the new strikes in the Middle East, BTC jumped by two grand, but it was stopped again and now sits in the middle of this range.
Most larger-cap alts have failed to recover the recent losses, with ETH still struggling at $2,450, XRP well below $1.40, and BNB beneath $690.
BTC Settles at $78K
After its best week of the year marked in the middle of August, bitcoin tried to take full advantage of this resurgence at the end of the month, surging past $81,000 on a couple of occasions. However, the bears stepped up and didnโt allow another leg up.
Just the opposite; BTC started to lose value rapidly on Friday after the hawkish speech by new Fed Chair Kevin Warsh at Jackson Hole, and dipped below $77,000. It managed to quickly erase some of the losses and spent Saturday trading above that level.
The bulls returned on Sunday with a minor increase to $79,000. However, the resumed strikes between the US and Iran resulted in another nosedive. Bitcoin slipped to $77,000 once again on Monday before it rebounded to $79,000 and now sits between the two boundaries.
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