BTC Price Settles Above $96K, Mantra (OM) Explodes 12% Daily (Weekend Watch)
After the significant volatility experienced on Friday following the Bybit hack, BTC’s price has calmed and stands just inches above $96,000.
Most altcoins are also quite sluggish on a daily scale, while ETH has gained 3%, which is somewhat surprising, given its role in the aforementioned attack.
BTC Stands Above $96K
After last Friday’s unsuccessful attempt to break $99,000, the primary cryptocurrency spent the previous weekend trading sideways at around $97,000. The business week began on the wrong foot as the asset dropped to $95,500 on Monday and even further south on Tuesday – to $93,500. This became its lowest price point in over two weeks.
However, the bulls managed to intervene at this point and didn’t allow another correction. In contrast, bitcoin started to recover some ground and went on the offensive on Friday. Following positive news from Coinbase in regards to its lawsuit against the SEC, BTC’s price climbed to a 13-day peak of $99,500.
As the community was preparing for another charge at $100,000, the landscape in the entire crypto industry changed as Bybit was compromised in what has become the largest hack against a digital asset company when $1.5 billion in ETH was siphoned from one of its hot wallets.
BTC reacted immediately, with its price tumbling by over four grand in hours. Nevertheless, it managed to bounce off on Saturday and jumped above $96,000 where it currently stands as well.
Its market cap has remained at $1.910 trillion, while its dominance over the alts has taken a hit and is down to 57.5%.
OM on the Run
Most larger-cap alts are with minor gains over the past 24 hours. This includes BNB, DOGE, ADA, TRX, LINK, XLM, AVAX, LTC, and SUI. Ethereum and Toncoin have added more than 3% of value within the same timeframe and now sit above $2,800 and close to $3.8, respectively.
However, OM has stolen the show from the larger-cap alts. Mantra’s native token has soared by roughly 12% in the past day and now trades well above $8.5.
Minor losses are evident from XRP, SOL HBAR, WBT, HYPE, MNT, ONDO, and a few others.
The total crypto market cap has remained at essentially the same spot as yesterday, at just over $3.320 trillion on CG.
The post BTC Price Settles Above $96K, Mantra (OM) Explodes 12% Daily (Weekend Watch) appeared first on CryptoPotato.
