Bitcoin's price fell below $122,000 while Zcash saw a significant 35% surge.

crypthub

about 18 hours ago

Bitcoin's Recent Performance

Bitcoin recently reached a new all-time high above $126,000 before encountering bearish pressure. It attempted to surpass $124,000 but has since stabilized around $122,000. The asset's volatility has been minor in recent hours, fluctuating within a narrow range. Jerome Powell’s speech today is anticipated to influence Bitcoin's market performance.

Market Reactions and Predictions

Markets will carefully analyze Jerome Powell's remarks concerning inflation, economic growth, and interest rates. Signals indicating potential rate cuts could positively impact Bitcoin's price, while a less dovish stance may cause a pullback. Bitcoin’s current market capitalization stands at approximately $2.42 trillion. Its dominance among altcoins remains stable at roughly 56.8%.

Altcoin Volatility

Several altcoins experienced significant price fluctuations, with Zcash (ZEC) leading gains with a 35% increase. Mantle (MNT), Monero (XMR), and Ethena (ENA) also saw notable rises. Aster (ASTER) led the decline, experiencing a 12% loss in the past 24 hours.

Overall Market Trends

The total cryptocurrency market capitalization decreased by 1.3%, reaching $4.23 trillion. Several other altcoins, including Pump.fun (PUMP), Cronos (CRO), and Bonk (BONK), also posted losses, though less drastic than Aster’s.