PENGU Shoots Up by 20%, Bitcoin (BTC) Fails at $120K Again: Market Watch

Bitcoin continues to try to take down the $120,000 level, but the resistance is too strong for now, and the asset has slipped by two grand since its peak earlier today.

In contrast, several altcoins have posted impressive gains over the past day, including BNB, which shot up to a new all-time high of $800.

BTC Stalls at $120k

After peaking beyond $123,000, the primary cryptocurrency dumped by over seven grand within a day and bottomed at just under $116,000 last week. The bulls halted the freefall at this point and didn’t allow another breakdown to take place.

Just the opposite, BTC started to recover some ground and jumped to $121,000 by the end of the business week. However, it couldn’t breach that level, and despite its few attempts, each rejection resulted in a price slip to around $117,000.

Following a quiet weekend, BTC jumped toward $120,000 twice on Monday and Wednesday morning, but the scenario repeated once again as profit-taking went wild. The latest rejection occurred earlier today, which drove bitcoin south to under $119,000 as of now.

Consequently, bitcoin’s market cap has stalled at $2.360 trillion, while its dominance over the alts has taken another hit and is down to 59% on CG.

BNB Charts New ATH

The big news from the top 10 alts is BNB’s surge past $800 as the asset painted a new all-time high. This represented a 300% surge from the October 2023 lows when it dropped to $200.

Elsewhere, ETH has neared $3,700 once again after a 2% daily increase, while XRP has defended the $3.45 level following a similar daily jump. SOL is close to $200 again, while XLM has added 5% of value.

Even more impressive gains come from APT, ONDO, and TAO, which have all jumped by more than 7% daily. Nevertheless, the top performers are FLR and PENGU as both have shot up by more than 20% since yesterday.

The cumulative market cap of all crypto assets has increased by over $40 billion in a day and is up to $4 trillion on CG.