BTC Price Stopped at $65,000, FET and Other AI Tokens (Market Watch)

Bitcoin had a relatively quiet weekend, but jumped to just over $65,000 on Monday morning as bears stepped up and halted any gains.

TON has regained some ground since yesterday’s massive crash, while TRX has moved closer to $0.17 once again. The other higher capitalization alternatives are much less bumpy.

BTC stopped at $65,000

Last Monday began with a downfall for the main cryptocurrency, as the asset failed to conquer the coveted $60,000 level decisively and was reduced by two thousand. However, it bounced back in the following days and remained in a tighter range between $59,000 and $60,000 on Friday.

It was then that the landscape changed after the positive evolution on American soil. First, Fed Chairman Jerome Powell said the time had come for the central bank to cut interest rates. Later that day, Robert F. Kennedy withdrew his 2024 presidential campaign and publicly endorsed the self-proclaimed “crypto-choice”: Donald Trump.

BTC reacted with immediate gains and soared to $65,000 on Saturday morning. Although he was unable to double up in that run, he spent the weekend around $64,000.

Ahead of an eventful week ahead, it hit a new multi-week high of $65,150 today, but quickly stalled and pushed south to just below $64,000 as of now. That means its market cap has shrunk to $1.260 trillion, but its dominance over the highs is still close to 54%.

Bitcoin/Price/Chart 08/26/2024. Source: TradingView FET gains 62% weekly

Following the arrest of Telegram CEO Pavel Durov in France on Saturday evening, Toncoin’s native token fell well over 20% at one point due to the relationship between the two. TON has managed to recover a small part of the losses and is above $5.6 after falling below $5.3 yesterday.

The other higher cap alternative with an impressive increase on a daily basis is TRX. As a result, Tron’s largest coin is up to $0.166. In contrast, ETH, BNB, XRP, ADA, BCH and DOT have smaller losses.

FET has taken center stage in the top 50 high, having risen 9% in the last day and more than 60% for the week. Other AI related tokens such as TAO, RNDR and INJ are also in green now.

The total crypto market cap has lost steam since yesterday and is down to $2.343 trillion in CG.

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