Bitcoin (BTC) Rejected at $80K, Ripple’s XRP Plunges Hard as Rally Cools: Market Watch

DOGE, SOL, and ZEC have dropped a lot as well in the past day, while RAIN has skyrocketed by double digits.

Bitcoin’s rally that began a week ago culminated yesterday with a surge to over $81,000 for the first time since May, when the asset was halted and driven south by a few grand.

Most larger-cap alts followed a similar trajectory, with XRP slumping by over 4%, while ZEC dumped by more than 7% after the debut of Grayscale’s ETF.

BTC Stopped at $81K

The primary cryptocurrency exploded out of the gate last Wednesday. It stood below $65,000 for weeks before the bulls took over. At first, they pushed it to $70,000 within hours. After a brief retracement, BTC skyrocketed again and surged to almost $80,000 on Friday to mark a three-month peak.

This meant that it had gained over $15,000 in less than 48 hours. As such, it was almost inevitable to correct before the bulls could step on the gas pedal once again. This took place during the weekend when BTC slipped to $75,000. The next leg up started on Monday and culminated on Tuesday.

As reported yesterday, bitcoin surged past $81,000 for the first time in 15 weeks amid these macro factors. However, it couldn’t keep climbing and has dropped by roughly $3,000 since that local peak.