Bitcoin Faces Another Rejection at the $90K Mark, HYPE Declines Further by 10%: A Look into the Market

Despite a sudden surge in Bitcoin's price, it was quickly rejected, decreasing significantly. This decline came even after the US Federal Reserve cut key interest rates last week. After reaching $94,500, Bitcoin fell to $89,500 a day later, rebounded to $90,000 over the weekend, and then declined again to $85,500. While it has risen to the current $87,300, its market cap still struggles below $1.750 trillion. Meanwhile, the value of most larger-cap altcoins, such as ETH and XRP, continues to drop. Hyperliquid’s native token, HYPE, has seen a significant decrease, losing almost 10% of its value in the last 24 hours and over 40% in the last month. Notwithstanding these fluctuations, the total crypto market cap has managed to maintain the $3 trillion level.