ZEC records double-digit gains again as BTC defends $88,000 level: Weekend Watch

CC and UNI have also increased in price.

Despite improving US inflation statistics, Bitcoin price failed to take advantage and stopped at $89,500 on Thursday.

Today, most altcoins have turned green. Ethereum approached $3,000, while XRP rebounded above key support at $1.90. Additional benefits are evident in ZEC, HYPE, CRO, UNI, CC, etc.

BTC defends $88,000 in support

After two consecutive rejections at $94,500 last week, Bitcoin’s price began to correct almost immediately, dropping to $90,000 over the previous weekend. The bear remained there for nearly 48 hours, but on Monday the bear took control again. As a result, BTC fell below $85,500.

The bulls managed to recover by Tuesday, and even Bitcoin soared on Wednesday. It soared to just over $90,000 within minutes, but collapsed just as quickly, dropping below $85,500.

Thursday’s better-than-expected US CPI data added to the volatility. The cryptocurrency soared to $89,500, but was rejected again and fell to a multi-month low of $84,500.

Another recovery attempt was made yesterday when BTC once again surged to $89,500, but to no avail. It is currently trading above $88,000, but is still down 2.5% on a weekly basis. Its market capitalization still exceeds $1.75 trillion and its dominance over altcoins stands at 57.3%.

green alternative

Ethereum dipped below $2,900 earlier this week, but quickly regained that level and is now near $3,000 after a small daily increase. Similar benefits are evident from BNB, SOL, BCH, and LINK. XRP is up over 3.5% and trading above $1.90. ADA and DOGE added 3% in value as well.

ZEC has again climbed double digits and is now above $450. HYPE rose 5%, CRO 7%, UNI 9.5%, and CC rose over 12% to $0.09.

The cumulative market capitalization of all cryptocurrency assets will increase by about $50 billion overnight, reaching up to $3.8 trillion in CG.