Bitcoin slid to a new multi-week low under $77,000 on Friday as geopolitical fears and a brief legislative rally fizzled out. The broader crypto market shed $50 billion in value, dragging altcoins sharply lower — though a handful of assets like HYPE and Zcash managed to swim against the tide.
Bitcoin below $77,000
Bitcoin fell to $76,500 at its lowest point, triggered by President Trump's latest threats against Iran. Earlier in the week, the CLARITY Act's passage through the Senate Banking Committee had briefly pushed Bitcoin back to $82,000, but the rally was quickly rejected. At time of writing, BTC is trading below $77,000 with a market cap of $1.54 trillion. Bitcoin dominance over altcoins remains above 58%.
Altcoins take a beating
Ethereum dropped 3% on the day, flirting with a break below $2,100. BNB slipped 2% to $640, while XRP fell to under $1.40. DOGE plunged over 5%, and BCH cratered more than 11% to $365. Pi Network's token slid below $0.15. Total crypto market capitalization now sits at $2.63 trillion, down $50 billion from earlier in the week.
HYPE and Zcash defy the gravity
Not every token bled. HYPE surged past $45, and Zcash held steady around $530. Both defied the broader altcoin crash, though the reasons for their resilience aren't immediately clear from the price action alone.
CLARITY Act's short-lived boost
The CLARITY Act passing the Senate Banking Committee briefly pushed Bitcoin back to $82,000 on Tuesday before it was halted. That momentum evaporated quickly as geopolitical tensions reasserted themselves. The bill now heads to the full Senate for a vote, adding a layer of regulatory uncertainty to an already jittery market.
The next few days will test whether Bitcoin can hold above $76,500 or if the sell-off deepens. With Trump's Iran rhetoric still hanging over markets, traders are bracing for more volatility.
