Bitcoin (BTC) Halted at $65K Resistance, TAO Skyrockets by 80%

Monday started on a positive note for bitcoin as it jumped to a four-week peak of $64,800 before it was stopped and pushed south.

Bitcoin price started the week on a positive note and climbed to a four-week peak of just under $65,000 before it was stopped and pushed south by nearly two grand. Monday began on a positive note for bitcoin as it jumped to a four-week peak of $64,800 before it was stopped and headed south. The asset began the day at around $63,200, which is where it concluded the previous week.

However from there, bitcoin enjoyed a quick surge that drove it up to highs of just under $65,000. This also coincided with a Fib line (23.6%) from the recent top to bottom price movement, and acted as resistance that pushed BTC down.

Bitcoin price dropped by nearly $2,000 on Monday after being stopped at $65,000 and heading south. It spent the remainder of the day attempting to recover from the loss, but was ultimately unsuccessful and began the week with a loss of 0.2%.

The week began slowly for altcoins, with most larger-cap coins seeing minor gains or losses. However, mid- and lower-cap alts have seen some significant gains.

Most larger-cap alts sit quietly today, with minor gains from ETH, BNB, LINK, AVAX, and TRX or insignificant losses from SOL, XRP, and SHIB. However, the mid and lower caps have produced some impressive increases.

Bittensor’s native token leads the pack with a 15.5% daily surge. Moreover, TAO has skyrocketed by 80% in the past week and trades at around $550 now. IMX, RENDER, AAVE, WLD, and NEAR are the other notable daily gainers.

IMX also finds a spot in the top performers on a weekly scale, with a 45% surge, followed by SUI (40%) and APT (30%).

The total crypto market cap has added around $20 billion since yesterday and is now at $2.320 trillion on CG.

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