Despite fears of a possible escalation of the conflict between Israel and Iran, Bitcoin managed to recover today. There was a 1.7% increase on this Monday (16) that brought the cryptocurrency back to the level of $106,000.
The Top 10 opened predominantly higher: Solana (SOL) rose 75% and Ethereum (ETH) appreciated 4.1%. In the Top 100, the highlight was the token of Hyperliquid (HYPE), which did not have the highest increase of the day but appreciated 10% and reached $44.16. As a result, HYPE reached its highest value since the token's launch in November.
The gradual recovery of Bitcoin after Friday's drop continued in the last 24 hours, with the price of BTC exceeding $106,000 for the first time since the onset of Israeli attacks on Iran. This appreciation also mitigated some of the losses incurred after the attack.
Due to this drop, Bitcoin erased all gains from last week and closed with a slight decline of 0.06% during the period. HYPE token reaches all-time high.
Bitcoin price today: BTC back to $106,000
Last week also started positively for Bitcoin, whose price exceeded $110,000 on several occasions between Monday (09) and Wednesday (11). However, the cryptocurrency could not definitively reach this level and began to lose value.
The most substantial rejection occurred on Friday morning (13), when BTC fell from $108,500 to less than $103,000 in minutes. The reason for this drop was Israel's missile attack on Iran, which practically incapacitated the Iranian military structure.
Iran retaliated the attack the next day and continued to take actions against Israel over the weekend. As a result, the market began to fear that the conflict could escalate into an open war. Nevertheless, Bitcoin started to recover and mitigated some of the losses.
The cryptocurrency could not return to its previous price but remained stable, confirming its role as a protection asset in times of crisis.
For Guilherme Prado, country manager of Bitget, the macroeconomic scenario still favors risk assets. In this sense, Bitcoin remains in a consolidation phase, oscillating between $107,000 and $110,000.
"The continuation of robust investments in BTC ETFs — which already total more than $431 million in daily inflows — reinforces institutional appetite and solidifies the asset as a legitimate store of value in the corporate environment," highlighted Prado.
HYPE continues to soar
Among the top 100 cryptocurrencies, the WBT token recorded gains of 31% and opened the day with the highest increase. Then came the memecoin SPX, which had gains of 19%. Despite the strong rise, the price is slightly below the historical peak reached on June 11, when the coin was worth $1.73.
Then came the aforementioned HYPE, reaching another all-time high, this time near $45. Its appreciation was 10%, which brought the token closer to the Top 10, as its market value reached $14.8 billion.
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Other notable gainers include SUI, AVAX, UNI, TAO, ICP, AAVE, ONDO, and more. SPX and AB jumped out of the top 100 altcoins. The total value of the cryptocurrency market rose by $80 billion, reaching $3.46 trillion.