The cryptocurrency market entered a profit-taking move this Tuesday after Bitcoin (BTC) reached its highest price in more than a month. After reaching the US$ 67.000, the leading cryptocurrency lost strength and pulled back to the US$ 65.500, leading several altcoins to follow the downward move.
Even with the correction, Bitcoin continues to post a strong recovery since the beginning of July. The cryptocurrency has gained more than US$ 9.000 relative to the low recorded on July 1, when it traded below US$ 58.000.
The most recent momentum began last week, after the release of U.S. inflation data below market expectations. The scenario reinforced bets that the Federal Reserve may adopt a more favorable monetary stance in the coming months, benefiting assets considered riskier, such as cryptocurrencies.
After jumping to approximately US$ 65.600, BTC faced a correction to the US$ 62.500 region on Friday. However, buyers returned to the market and prevented a deeper drop. During the weekend, the currency remained close to US$ 64.000, advanced to around US$ 65.000 on Sunday, and fluctuated again on Monday, reaching US$ 63.750 before quickly recovering the lost ground.
Buying pressure gained intensity in the following hours, taking Bitcoin back to US$ 65.600 and, later, to the US$ 67.000, recorded on Binance. The level represented the asset's highest price in just over a month, but it also acted as a strong technical resistance, triggering a new round of profit-taking.
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At the moment, Bitcoin's market capitalization remains close to US$ 1,32 trilhão, while its share of the global cryptocurrency market remains above 57%, indicating that the currency's dominance remains high even during the correction.
Altcoins retreat, while DeXe suffers collapse
Among the leading cryptocurrencies, the negative highlight was the DEXE token, which posted a drop close to 90% in the last 24 hours, and is now trading around US$ 4,50. With the sharp decline, its market capitalization fell to approximately US$ 432 milhões, bringing the project close to leaving the group of the 100 largest cryptocurrencies.
Other relevant assets also traded lower. Hyperliquid (HYPE), NEAR Protocol (NEAR) and Zcash (ZEC) led the losses among the largest cryptocurrencies, posting declines of up to 7%.
Ethereum (ETH), Solana (SOL), BNB, Dogecoin (DOGE) and Stellar (XLM) also followed the correction movement, although with more moderate declines.
Against the broader market trend, the RAIN token advanced more than 6%, trading near US$ 0,015, while ONDO once again surpassed the US$ 0,40, ranking among the few positive highlights of the day.
With the pullback in Bitcoin and most altcoins, the total cryptocurrency market capitalization shrank by about US$ 40 billion compared with the peak recorded the previous day, coming close to US$ 2.3 trillion, reflecting a profit-taking move after the strong recovery seen in recent weeks.