SUI Surges 8% as Bitcoin Bounces Back from $94K Plunge—Crypto Rollercoaster Continues

Crypto markets whipawed traders again today—SUI rockets into double-digit gains while Bitcoin claws back from a gut-wrenching dip below $94K. Just another Tuesday in the casino.

SUI’s rally defies the broader altcoin slump, fueled by speculation about undisclosed partnerships (because what’s crypto without a good mystery?). Meanwhile, BTC’s recovery has Wall Street analysts scrambling to revise their ’death of crypto’ hot takes—golden cross patterns suggest the bull might still be breathing.

Pro tip: When the SEC chairman starts tweeting scripture again, that’s your cue to check leverage positions. The only thing more volatile than these charts? Regulators’ moods.

BTC Recovers From Dip to Multi-Day Lows

The primary cryptocurrency had a strong week last time around as its price finally managed to break out of its prolonged trading range, in which it stood mostly between $93,000 and $95,000. The surge past the latter came on Thursday after another successful retest of the lower boundary.

The bulls drove Bitcoin to a new local peak of over $97,000 on Thursday and $98,000 on Friday morning. Naturally, all eyes turned to the coveted $100,000 milestone.

However, there was no such challenge as the bears stepped up. Instead of heading toward a six-digit territory, the cryptocurrency reversed course and started losing value gradually. It slipped back to $96,000 on Saturday and Sunday but the Monday morning Asian trading session brought some more pain as BTC dropped to a May low of $93,600.

Nevertheless, it has managed to recover some ground and now trades about a grand higher. Its market cap has dropped to $1.880 trillion on CG, while its dominance over the alts is down by 0.2% to 61.5%.

SUI on a Roll

The biggest gainer from the larger-cap alts today is SUI. The asset has risen by over 8% and now trades close to $3.5 after a minor retracement in the past few days. On a monthly scale, though, SUI is up by over 50%.

TAO has jumped by 6% daily and trades above $365, while PEPE, ONDO, LTC, and XMR have gained somewhere around 3-4%.

ETH, XRP, BNB, SOL, DOGE, LINK, and TRX are also in the green, albeit in a more modest fashion, while ADA, LEO, AVAX, and TON have charted minor losses.

The total crypto market cap has shed another $20 billion daily and is below $3.060 trillion now.