Bitcoin and the broader crypto market experienced sharp volatility over the weekend following escalating tensions in the Middle East. Despite a steep sell-off and rapid rebound, the market has largely returned to where it started. Meanwhile, several altcoins posted strong recoveries, with XRP reclaiming a key market cap position.
Bitcoin Drops to $63K, Briefly Reclaims $68K
The week began on a weak note for Bitcoin, which slid from $68,000 to around $64,000 following renewed tariff concerns. Selling pressure intensified on Tuesday, pushing BTC to a multi-week low near $62,500.Midweek brought relief. Bitcoin surged to $70,000 on Wednesday its highest level in over a week but the rally proved short-lived. Analysts had warned of fading momentum, and BTC soon retraced, stabilizing near $68,000 in the following sessions.Volatility returned sharply on Saturday as geopolitical tensions escalated in the Middle East. Bitcoin plunged from $67,000 to roughly $63,000 within hours. However, the market reversed course later in the day, sending BTC back above $68,000 after reports circulated regarding the death of Iran’s Supreme Leader.The move stalled near that level, and Bitcoin is currently trading just below $67,000.
Market cap: Approximately $1.335 trillion
BTC dominance: Just above 56%
Despite the turbulence, BTC has effectively returned to its starting position from earlier in the week.
Altcoins Stage Strong Recovery
Altcoins mirrored Bitcoin’s rollercoaster but have posted impressive recoveries over the past 24 hours.
Ethereum (ETH) climbed 7.5%, trading near $2,000.
XRP (XRP) surged 8% to nearly $1.40, overtaking BNB (BNB) to become the fourth-largest cryptocurrency by market capitalization.
Among mid-cap standouts:
Hyperliquid (HYPE) jumped 15% to around $31.
Jupiter (JUP), NEAR Protocol (NEAR), and Pump.fun (pump token”]) also posted double-digit gains.
The total crypto market capitalization added roughly $100 billion in a single day, climbing back toward $2.4 trillion.