Following a massive decline on Friday and Saturday, Bitcoin has settled around $112,000. Many altcoins mirrored this behavior, although some, like BNB, managed to gain.

Bitcoin Stabilizes at $112K

The week saw a strong start for Bitcoin as it hit consecutive all-time highs last Sunday and Monday, peaking just over $126,000. However, fears arose when US President Donald Trump threatened new tariffs on China, leading to a rapid drop in Bitcoin’s value from $122,000 to $101,000 on various exchanges.

This decline resulted in significant liquidations, causing the largest recorded loss of $19 billion in a single day, according to CoinGlass. Afterward, Bitcoin briefly surpassed $114,000 but has since stabilized close to $112,000 at the time of this reporting, with its market cap under $2.230 trillion.

BTCUSD Chart BTCUSD. Source: TradingView

ZEC Shines Despite Market Issues

Zcash (ZEC) has shown remarkable resilience, overcoming a drop from $250 to $160 during the broader market downturn. It has fully recovered from its losses, currently nearing $300 after an additional 11% rise since yesterday. Another noteworthy gainer is IP, which also surged among the top 100 altcoins.

Binance Coin has increased by more than 7%, now trading above $1,150, while Ethereum climbed to $3,800 with a 3% gain, and XMR rose by 7% to $308. However, other larger-cap altcoins remain sluggish at this time.

Cryptocurrency Market Overview Cryptocurrency Market Overview. Source: QuantifyCrypto

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