ICP Soars By Double Digits, BTC Price Halts At $58,000 (Market Watch)

The price of Bitcoin jumped to $58,000 twice on Monday and Tuesday, but stopped and pushed south by more than a million.

Most altcoins have followed suit with minor daily drops, but ICP has defied general sentiment with a massive 12% increase.

BTC progress has stopped

The major cryptocurrency had a rough finish to the previous business week, shedding more than four thousand on Friday following the August US jobs report and the growing exodus from local Bitcoin ETFs.

However, the bulls managed to intercept the free fall at this point and did not allow another break towards $50,000. BTC regained some ground and was mostly above $54,000 over the weekend.

The outlook changed for the better on Monday as the asset exploded to a multi-day high of $58,000. Although the possible reasons are still being debated, it touched that level again on Tuesday, but ultimately fell short.

The subsequent rejection pushed it south by about $1,500, and now sits near $56,500. Its market capitalization has dropped to $1.15 trillion in CG, while its dominance has narrowed slightly to 53.6%.

Bitcoin/Price/Chart 11.09.2024. Source: TradingView ICP, AAVE Defy Market Sentiment

Most altcoins produced some gains over the past few days, but have mimicked BTC’s performance since yesterday by turning red. Ethereum touched $2,400 yesterday but is now back to $2,330. BNB briefly topped $520, but is now down to $512.

Similar or even slightly more painful losses come from the likes of SOL, DOGE, XRP, ADA, AVAX and SHIB.

In contrast, AAVE has soared 9% to hit $150. The daily increase in ICP is even more impressive as it has risen 12% to $8.7.

The cumulative market capitalization of all crypto assets has decreased by $30 billion since yesterday to $2.08 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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