Bitcoin remains stuck near $80,000 after a volatile week that included a jobs-report selloff and a rebound to $82,400. Meanwhile, Arbitrum's ARB token has rocketed 42% in a day and Zcash's ZEC has surged 17% toward $1,200, its highest level in almost a decade.
Bitcoin is spending another sluggish weekend fighting for $80,000, unable to make a major move in either direction.
Bitcoin's Rough Ride Back to $80,000
Bitcoin closed August in the green for the first time in a bear market, surging over 25% for the month. That gain came despite an early Monday retracement from $79,000 to $77,000 as the US and Iran resumed strikes against each other.
The asset then rebounded to $79,000, only to be rejected on Tuesday and driven under $76,500 by Wednesday. Buyers returned in force after that, however, pushing bitcoin to $82,400 — its highest price since mid-May.
A strong US jobs report on Friday reversed the move. Bitcoin slipped by three grand as odds of a Fed rate hike jumped, though it recovered from $78,600 back toward $80,000, where it has spent most of the weekend. Its market capitalization sits at $1.6 trillion on CoinMarketCap. Its dominance over altcoins has slipped slightly to 59.1%.
Arbitrum and Zcash Lead a Broader Altcoin Rally
Arbitrum's native token has stolen the show this weekend, surging 42% to over $0.19. Zcash's ZEC is not far behind, having jumped 17% to trade close to $1,200 for the first time in almost a decade.
Ethereum has neared $2,500 after a 1.75% daily increase. BNB has cooled to below $760 after touching $770 yesterday. XRP has defended its $1.40 support. Solana trades well above $100 again. Uniswap's UNI has also joined the rally, climbing to $7 after a 10% gain.
The total crypto market capitalization remains just over $2.7 trillion, up 0.8% since yesterday.
Source: CryptoPotato
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