CryptoScoop reports an 8% surge in SUI, while Bitcoin bounces back from a dip below $94K, according to the latest crypto market watch. Over the past few hours, Bitcoin’s price trends took a downward turn, sinking to $93,600, but managed to rally by approximately $1,000. Simultaneously, most altcoins mirrored similar price actions, with SUI standing out as the top performer of the day.
The premier cryptocurrency had an impressive performance last week, finally breaking free from its extended trading range between $93,000 and $95,000. This breakout occurred on Thursday after a successful retest of the lower boundary. Bitcoin’s price was driven to a new local high of over $97,000 on Thursday and $98,000 on Friday morning, shifting the market focus towards the anticipated $100,000 milestone.
However, the bears took control, leading to a reversal in the cryptocurrency’s course. Instead of venturing into the six-digit territory, Bitcoin started losing value incrementally. It dropped back to $96,000 on Saturday and Sunday, and Monday’s Asian trading session saw it dip further to a May low of $93,600.
Despite this, it has rebounded somewhat and currently trades about $1,000 higher. Its market cap on CG has fallen to $1.880 trillion, and its dominance over the altcoins has decreased by 0.2% to 61.5%.
Among larger-cap altcoins, SUI has been the star performer, recording an 8% increase and trading around $3.5 following a slight retracement in recent days. In monthly terms, SUI has risen by more than 50%. Other altcoins like TAO, PEPE, ONDO, LTC, and XMR have also seen gains between 3-4%.
ETH, XRP, BNB, SOL, DOGE, LINK, and TRX are also in the green, although to a lesser extent, while ADA, LEO, AVAX, and TON have registered minor losses. The overall crypto market cap has shed another $20 billion daily and is currently below $3.060 trillion.
