Following the price drop on Friday and a calm weekend, the price of Bitcoin has rebounded to around $110,000 after U.S. President Trump suspended the tariffs on the EU scheduled to start on June 1.
Altcoins have also turned green, with HYPE continuing to lead major stocks, setting a new historical high today, close to $40.
BTC rebounded to $110,000
At the beginning of last work week, Bitcoin experienced a period of volatility, challenging the $107,000 area several times but faced resistance on Sunday and Monday. However, bulls successfully broke through that level on Wednesday, pushing Bitcoin above $109,100, setting a new historical high near $110,000.
After another sharp but brief drop, BTC surged again on Thursday (Pizza Day), breaking through $112,000 and setting a new historical high.
In the next 24 hours, the price of Bitcoin remained close to this level, but after the U.S. president's statement on Friday suggesting new tariffs on the EU, the market was immediately impacted, causing the price of Bitcoin to drop below $107,500.
For most of the weekend, the price of Bitcoin remained around this level, but Trump's announcement to suspend tariff increases for at least a month pushed the price of Bitcoin higher. During today's Asian trading session, the price of Bitcoin surged to just above $110,000 and is currently close to that level.
Its market value on CG has rebounded to $2.180 trillion, with its dominance over altcoins reaching 61.1%.
The performance of HYPE continues.
Even attacks on the project's official X account could not stop HYPE's recent one-way rise. The asset continues to break through numerous obstacles, setting new highs, with the latest surge earlier today, approaching $40. HYPE has risen over 12% in the past day, although it has slightly retreated since its all-time high.
From the daily chart perspective, the performance of HYPE ranks just below JUP, VIRTUAL, and FET. Among other major altcoins, notable performers also include AVAX, ADA, UNI, TAO, APT, ICP, ETH, SOL, and DOGE.
Since yesterday, the total market value of cryptocurrencies has rebounded by nearly $80 billion, exceeding $3.570 trillion on CG.
