BTC, XRP, ADA Stopped by Trump’s Latest Response to Iran Proposal: Market Watch

After a relatively quiet weekend, bitcoin went through a highly volatile evening session on Sunday and Monday morning, before it was stopped at $82,400 after Trump’s comments on Iran’s latest proposal.

Many altcoins tried to break out yesterday, including XRP and ADA, but the overall bearish sentiment prevailed.

BTC Stopped at Over $82K

Last week was quite positive for the primary cryptocurrency. It began with a price surge to $80,800 on Monday, a level not seen in three months, before a sudden but brief crash drove it south by over two grand. However, BTC quickly rebounded and reclaimed the $80,000 level and even rocketed to $82,800 on Wednesday to mark a new local peak.

After gaining $8,000 in a week, though, bitcoin was due for a correction, which took place on Thursday and especially on Friday when it dipped to $79,100. Nevertheless, the bulls persevered and initiated a minor leg up that helped BTC reclaim the $80,000 level on Saturday.

The following 36 hours were calmer, but more volatility ensued on Sunday evening and Monday morning. BTC first jumped to $81,500, before it dived to $80,250, and then rocketed to $82,500. However, then dumped back down below $81,000 after US President Donald Trump rejected Iran’s latest proposal, calling it “totally unacceptable.”

BTC’s market cap remains around $1.620 trillion on CG, while its dominance over the alts is still above 58%.

BTCUSD May 11. Source: TradingView

Alts Stopped

XRP became the top performer yesterday evening at one point, gaining over 5% and exceeding $1.50 for the first time in over three weeks. As analysts were predicting a major breakout, though, the familiar , and the asset lost its momentum, dropping back down to $1.45. ADA faced a similar price trajectory and now sits at essentially the same level as yesterday.