Bitcoin’s price has been volatile over the last day, initially rising past $111,500 before falling to around $110,000. While many altcoins have shown minor gains, Zcash (ZEC) and TAO have seen significant increases, with ZEC reaching nearly $450—a new multi-year high.

BTC’s Instability at $110K

Recent economic developments, including lower-than-expected inflation rates and a Federal Reserve interest rate cut, had the potential to boost Bitcoin (BTC). However, BTC was unable to maintain its momentum, struggling to stay above $115,000, and was pushed back down to its current level. Consequently, it remains under a $2.2 trillion market cap, maintaining a dominance of less than 58% over other cryptocurrencies.

ZEC and TAO on the Rise

Other larger-cap cryptocurrencies like Ethereum (ETH), XRP, and Binance Coin (BNB) experienced small gains in the past 24 hours. Interestingly, Figure Heloc showed remarkable gains, skyrocketing over 340%. The total cryptocurrency market cap remains below $3.8 trillion.

BTCUSD BTCUSD. Source: TradingView

Cryptocurrency Market Overview Cryptocurrency Market Overview Daily. Source: QuantifyCrypto

Disclaimer: This article is informational and does not constitute financial advice. Investors should conduct their own research before making financial decisions.