TL;DR
- Bitcoin was rejected again at $89,000 and slipped back below $88,000 after dipping to $86,000, following earlier tariff-driven volatility.
- While majors were muted, Hyperliquid’s HYPE surged 25% to above $27, with ETH near $2,900, BNB above $880, and XRP near $1.90.
- BTC market cap was $1.750 trillion with 57.4% dominance, as total crypto market cap hovered just over $3.050 trillion and desks waited for direction, with dispersion favoring momentum trades.
Bitcoin pushed into $89,000 again and got rejected, keeping price action pinned in a narrow band just below $88,000. This repeat failure is turning $89K into a tactical ceiling for short-dated risk. It now sits a little more than a grand lower, reinforcing the message. The wobble traces back to last Monday, when tariff threats against the European Union hit as Asian markets opened and BTC slid more than $3,000 to $92,000 before extending to $87,200. Bulls briefly drove it to just over $91,000 on Friday, but Sunday’s drop tagged a multi-week low near $86,000.
HYPE steals the tape as majors grind sideways
Across the board, most larger-cap alts posted only minor gains in 24 hours. When the benchmark stalls, traders tend to rotate into the loudest pocket of momentum. Ethereum tapped $2,900 after a modest rise, BNB held above $880, and XRP neared $1.90 while still sitting below a key resistance. SOL, BCH, and XMR posted stronger gains, with RAIN and ZEC even higher. Hyperliquid’s HYPE stole the tape, soaring 25% to a multi-week peak well above $27, while PUMP and HASH joined the top gainers. Outside those moves, the tone stayed subdued and range-bound for now.
Zooming out, the move has been more about persistence than magnitude. Bitcoin has not been able to sustain trades above $90,000 since Friday’s pop, keeping conviction capped. After Sunday’s dip to $86,000, it bounced but again stalled at $89,000 and slipped under $88,000. At the snapshot, BTC market cap was $1.750 trillion and dominance was 57.4%, suggesting limited rotation pressure. Total crypto market cap sat just over $3.050 trillion, a steady baseline that still leaves participants waiting for a cleaner signal. That combination implies liquidity is present, but directionality is deferred until the next catalyst.
In this environment, the next inflection likely comes from the same level the market keeps failing to clear. A sustained break above $89,000 would shift the conversation from defense to deployment across risk assets. Until then, traders will watch whether BTC can hold above the $86,000 multi-week low while it trades below $88,000. If stability returns, sidelined capital may rotate from single-name movers into majors. If volatility resurfaces, the playbook stays selective, favoring momentum bursts like HYPE over broad exposure. With total market cap near $3.050 trillion, the market is waiting for confirmation, not headlines.
