HYPE Surges Near $100 as Bitcoin Fails at $87K

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XRP and ZEC are the other major gainers from the larger-cap alts today.

Bitcoin’s price ascent drove the asset to over $87,000 once again in the past several hours, but the bears were more persistent so far, pushing it down toward $86,000.

Several altcoins have posted major gains over the past day, including Ripple’s XRP, which has soared past $1.60, and Hyperliquid’s HYPE, which tapped a new all-time high close to $100.

BTC Stopped at $87.3K Again
After last week’s failed advancement vote on the CLARITY Act and the subsequent rate hike by the US Federal Reserve, concerns emerged about BTC’s ability to sustain its August breakout. After all, the asset was rejected at $80,000 on several occasions, and both of these developments pushed it south to a three-week low at $75,000.

However, the cryptocurrency rebounded swiftly and quickly reclaimed $78,000 by Friday morning. The bulls stepped up on the gas pedal later that day, driving it past $80,000. Unlike previous occasions, though, BTC managed to continue forward and challenged $82,000 on Saturday.

The latest escalation in the Middle East conflict as well as the Ukraine-Russia war halted its progress, and bitcoin slipped to $80,300. However, it didn’t slip below $80,000. Instead, it went on a wild run on Monday, adding $7,000 in value and surging past $87,000 for the first time since late January.

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