Bitcoin’s recent rebound saw it reach $88,000, but it struggled to maintain this level, dropping to $86,000. Larger-cap altcoins are seeing minimal movement, with Ethereum (ETH) holding above $2,800 and XRP staying over $2.00.

Bitcoin’s Struggles at $88,000

The week started poorly for Bitcoin, facing rejections at $96,000 early on and dropping to below $90,000. A brief recovery to $94,000 was followed by a steep decline that left Bitcoin below $81,000 by week’s end, marking a loss of $15,000.

After some hopeful news regarding a potential US Federal Reserve rate cut, Bitcoin bounced back to $84,000, before reaching $88,000. However, it could not sustain its position, resulting in another downturn to $86,000, with a market cap of $1.715 trillion and a dominance of nearly 57% over altcoins.

BTCUSD Chart BTCUSD. Source: TradingView

Market Movements

In the altcoin space, most larger cryptocurrencies saw marginal changes in the last day. While some like ETH, SOL, and ADA remain slightly down, others such as HBAR exhibit significant gains. Meanwhile, ZEC’s value dropped over 7%, accentuating the varied performance across the market.

The total cryptocurrency market cap is hovering close to the $3 trillion mark, having dropped approximately $30 billion in a single day.