Bitcoin dipped to a multi-week low just above $62,000 on Saturday evening before rebounding to $63,500 by Sunday morning. The turnaround came after US President Donald Trump canceled planned attacks against Iran, easing geopolitical fears that had weighed on risk assets. Cardano (ADA) jumped 9% to $0.185, making it the best performer among large-cap altcoins.
Weekend volatility
Earlier in the week, Bitcoin had held above $64,000 and briefly touched $65,600 on Monday. But uncertainty ahead of the Federal Open Market Committee meeting pushed the price down to $62,800. The weekend saw a further dip to $62,000 before the Iran news sparked a recovery. The move erased most of the previous day's losses, and Bitcoin's market cap reclaimed $1.270 trillion.
Altcoin rally
XRP defended the $1.05 support level, considered a major support by analysts. SOL and HYPE each rose 1%. ETH, TRX, DOGE, RAIN, and ZEC posted minor gains. XLM, DOT, AVAX, NEAR, PEPE, and WLD recorded gains of up to 4%. The total crypto market cap added $40 billion from the previous day's low, reaching $2.250 trillion on CoinGecko.
Bitcoin dominance slips
Bitcoin's dominance over altcoins dipped below 57% on CoinGecko, even as its own price recovered. That suggests altcoins are catching up during the bounce, with Cardano leading the charge. The 9% surge in ADA came without any obvious catalyst tied to the project itself, pointing to a broader rotation into smaller caps.
FOMC decision ahead
The market is now looking ahead to the FOMC meeting later this month. The earlier price drop showed how sensitive crypto remains to macro signals. Whether the weekend bounce holds will depend on how the Fed's tone lands. Traders are watching for any shift in rate policy that could reignite volatility.
