Bitcoin sits just below $85,000 after defending $83,000 support twice this week, while Quant's QNT token surged 75% to over $190 before pulling back to $160. The most probable driver is The Clearing House's selection of Quant to power its On-Chain Money Initiative, and several other altcoins are posting double-digit daily gains alongside it.
Bitcoin's price action stayed calm over the weekend, but the asset kept grinding toward $85,000 after defending the $83,000 support on Friday. Quant's QNT, meanwhile, traded in a league of its own following a bullish development tied to the token.
Bitcoin Grinds Back Toward $85K
The previous week began with bitcoin exploding from the $80,000 support and topping $87,000 for the first time in eight months. Bears then pushed the asset down to $85,000 before another leg up drove it to $87,300.
A steeper rejection followed. Bitcoin failed at that level and slipped to $83,000 a few days later, then dipped there again on Friday after a lower high near $85,000. Bulls stepped in this time, and bitcoin rebounded to $84,000, holding that level Saturday despite Trump's rejection of Iran's ceasefire proposal. The coin has since ticked up to sit just below $85,000, with its market cap at $1.7 trillion and its dominance over altcoins at 58.6%.
QNT Powers a Broader Altcoin Rally
QNT leads the gains among the largest 100 altcoins, spiking 75% at one point to over $190 before easing to $160. The most probable reason behind the surge is The Clearing House's selection of Quant to power its On-Chain Money Initiative.
Other tokens are also posting double-digit gains, including WLD, GRAM, and GRAY. ZEC has climbed more than 8% to above $1,650, and NEAR reclaimed $5 after a 5.4% jump. Solana sits close to $125 following a 3% increase, while ETH, BNB, LINK, and HYPE trade slightly higher. XRP, DOGE, and TRX have posted minor losses. The total crypto market cap has ticked up to $2.910 trillion.
Source: CryptoPotato
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