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HYPE has skyrocketed by 60% in the past few days.
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Summarize with AI
Summarize with AI
Bitcoin’s gradual price recovery drove the asset to $89,500 hours ago, where it faced some resistance and now sits around $89,000.
While most larger-cap altcoins have produced gains over the past 24 hours, the same trading period belongs to Hyperliquid’s HYPE, which has rocketed by another 25% to a multi-month peak.
BTC Taps $89K
After nosediving last week from over $95,000 to under $88,000 in the span of just a few days following the latest rise in geopolitical tension, BTC tried to recover some ground on Friday when it bounced to $91,000. However, that was another fakeout, and it quickly lost that level, going south to $89,000, where it spent most of the weekend.
Sunday evening and Monday morning brought fresh losses as bitcoin dumped to $86,000 for the first time in well over a month. The bulls finally stepped up at this point and helped the cryptocurrency recover some ground to around $88,000.
The past 24 hours were slightly more positive for the asset. After a minor dip to $87,500, it bounced off and surged to $89,500 to market a four-day high. It couldn’t penetrate that level and now sits around $89,000, but it’s still roughly 1% up on the day.
Its market capitalization has neared $1.780 trillion, while its dominance over the altcoins on CG is down to 57.3%.
BTCUSD Jan 28. Source: TradingViewHYPE Keeps Pumping
Hyperliquid’s native token has emerged as the top gainer for a second consecutive day. It has doubled down on its 25% price increases and, after another similar surge, has risen to over $34 for the first time in almost two months.
Although most larger-cap alts are in the green, even the top performers have charted significantly less impressive increases over the past day. DOGE, AVAX, and MNT are up by 3%, while ETH, BNB, and SOL have risen by up to 2.5%.
Nevertheless, the total crypto market cap has added more than $50 billion daily and has reclaimed the $3.1 trillion level on CG.
Cryptocurrency Market Overview Daily Jan 28. Source: QuantifyCryptoSECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Source: https://cryptopotato.com/hyperliquids-hype-flies-to-2-month-high-bitcoin-btc-taps-89k-market-watch/
