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Bitcoin prices were once again volatile at the start of the week, quickly retreating and resuming their decline as the price approached the $80,000 level.
Bitcoin opened last week below $75,000 but quickly rose to around $79,500 on the back of political developments before settling into a range between $77,000 and $78.5,000 for several days.
Markets were relatively calm over the weekend, with limited volatility related to geopolitical events.
Bitcoin prices rose again to near $80,000 early on Monday amid reports that a deal was possible, but the price failed to break above this level, falling to around $77,500 and currently holding steady near $78,000.
Bitcoin’s market capitalization is approximately US$1.56 trillion, with a dominance of over 58%.
Altcoins, on the other hand, had a mixed performance, with red accounting for the majority of the market and major coins such as Ethereum, XRP, and Solana seeing slight price drops.
However, there have been some exceptions, most notably the PENGU coin, which has gained over 10%, approaching the $0.01 level, apart from limited gains for currencies like HYPE and RAIN.
Overall, given the continued state of market expectations, the total market value of digital currencies has stabilized at around $2.68 trillion.
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