ICP Skyrockets by Double Digits, BTC Price Stopped at $58K (Market Watch)

1 month ago 35

Bitcoin’s price jumped to $58,000 on two occasions on Monday and Tuesday but was stopped and pushed south by over a grand.

Most altcoins have followed suit with minor daily declines, but ICP has defied the overall sentiment with a massive 12% surge.

BTC’s Progress Halted

The primary cryptocurrency had a rough ending to the previous business week as it slumped by over four grand on Friday after the US jobs report for August and the growing exodus from the spot Bitcoin ETFs.

However, the bulls managed to intercept the freefall at this point and didn’t allow another breakdown toward $50,000. BTC recovered some ground and stood mostly above $54,000 during the weekend.

The landscape changed for the better on Monday as the asset exploded to a multi-day peak of $58,000. While the possible reasons are still debated, it tapped that level once again on Tuesday but ultimately failed to conquer it.

The subsequent rejection pushed it south by about $1,500, and it now stands close to $56,500. Its market cap has slipped to $1.150 trillion on CG, while its dominance has retraced slightly to 53.6%.

Bitcoin/Price/Chart 11.09.2024. Source: TradingView

ICP, AAVE Defy Market Sentiment

Most altcoins produced some gains over the past few days but have mimicked BTC’s performance since yesterday by turning red. Ethereum touched $2,400 yesterday but has retraced to $2,330 as of now. BNB briefly exceeded $520, but it is down to $512 now.

Similar or even slightly more painful losses come from the likes of SOL, DOGE, XRP, ADA, AVAX, and SHIB.

In contrast, AAVE has skyrocketed by 9% and has tapped $150. ICP’s daily surge is even more impressive as it has jumped by 12% to $8.7.

The cumulative market cap of all crypto assets has declined by $30 billion since yesterday and is down to $2.080 trillion.