Bitcoin rejected at $80K after surging to $81K, falling ~$3K while XRP and altcoins decline sharply as market-wide rally cools.
Macro & Markets ·
Bitcoin reached above $81,000 for the first time in 15 weeks before retreating by roughly $3,000 from that local peak. Despite the pullback, the asset maintained a weekly advance exceeding 22%. The broader market momentum faltered as major altcoins declined sharply, with XRP falling 4.5% and ZEC dropping more than 7%, even following the debut of Grayscale's ETF. Total crypto market capitalization contracted by around $60 billion, settling at $2.740 trillion.
The pullback emerged after an extended rally that began the previous week, during which BTC climbed from below $65,000 to approach $80,000 within days. The rejection near $81,000 marked a natural correction point following such rapid appreciation. Ethereum encountered resistance at $2,500 and retreated to $2,450, while other major altcoins including SOL, DOGE, ADA, and XLM each lost between 5% and 6%.
The extent to which the correction represents a temporary consolidation or the start of a longer pullback remains unresolved. Bitcoin's market dominance held near 58%, though whether price stabilization emerges at current levels or lower points is unclear.