Bitcoin reached $65,000 for the first time since Friday but couldn't hold above it, as the same resistance that stymied bulls last week returned. The price action came amid a volatile stretch that saw a brief rebound after President Trump canceled strikes against Iran, followed by a fresh drop to monthly lows. Total crypto market cap added about $40 billion to $2.3 trillion, though most altcoins outside Ethereum were in the red.
The $65,000 wall
Bitcoin attempted $65,000 multiple times last week, getting halted at $65,600 twice and at $65,400 on Friday. Over the weekend it dropped to a monthly low of $62,200 on Saturday. On Monday, Trump's announcement that he had canceled strikes against Iran sparked a rebound to $63,800, but that rally fizzled and Bitcoin fell back to $62,200. Bulls then pushed BTC above $63,000 and $64,000, eventually back to $65,000 — where it was stopped again. Bitcoin's market cap touched $1.3 trillion, and its dominance over altcoins remains below 57% on CoinMarketCap.
Trump's Iran reversal
The president's decision to call off military strikes against Iran gave markets a short-lived jolt. Bitcoin jumped from around $62,200 to $63,800 within hours Monday, but the move lacked follow-through. By Tuesday the gains had evaporated, and the asset was back testing support near $62,000 before bulls stepped in again later in the week.
Altcoins diverge
Ethereum rose above $1,900 with a 2.2% daily increase, bucking the broader trend. Most other large-cap altcoins were in the red: BNB, XRP, SOL, TRX and DOGE all posted minor losses. HYPE and ZEC each fell more than 2%, while CC dropped over 7%. The standout gainer was Pi Network's PI token, which exploded 15% to a three-week peak, still trading above $0.09. GT and BDX followed PI in daily gains.
Market cap inches up
Despite the mixed action, the total crypto market cap increased by roughly $40 billion to $2.3 trillion. Bitcoin's share of that market stayed below 57%, suggesting that capital rotated into a few winners like PI and Ethereum rather than flowing broadly into altcoins.
Traders are now watching whether Bitcoin can finally break $65,000 in the coming sessions, or if the resistance will force another pullback toward the $62,000 area.
