Bitcoin Attempts to Recover Above 116; Astar Cryptocurrency Soars Over 100%

• Bitcoin today falls 0,5% to US$115.945
• Astar jumps over 100% and reaches US$ 1,20
• Crypto market cap drops to $4,14 trillion

Bitcoin started Saturday down 0,5%, trading at $115.945 after failing to sustain its advance to $118.000 at the end of the week. The correction comes after days of appreciation, interrupting the positive streak that had been forming in the market, but the cryptocurrency is trying to recover above the $116 range.

The pullback comes just after the week in which the Federal Reserve announced an interest rate cut, a decision that brought volatility to the sector. On the eve of the FOMC meeting, BTC fell below $115.000 but recovered shortly thereafter, returning to $116.000 when the measure was confirmed.

Despite the initial muted reaction, the cryptocurrency gained momentum on Thursday, reaching its highest level in weeks at $118.000. The jump represented an increase of more than $7.000 from the previous week's low. However, resistance at this level triggered selling, resulting in the correction currently observed.

Even with the daily decline, Bitcoin's market capitalization remains above $2,3 trillion. Meanwhile, the asset's dominance over other cryptocurrencies remains slightly below 56%, highlighting the pressure on the rest of the market.

Among altcoins, the cryptocurrency Astar (ASTR) attracted attention by soaring more than 100% in the last 24 hours, trading at $1,20. The jump places the asset among the best performers of the day, contrasting with the prevailing downward movement in the sector.

Meanwhile, other large-cap cryptocurrencies continue to decline. Ethereum fell below $4.500, Dogecoin lost more than 3%, and Chainlink fell 5%. XRP continues to test the $3 region, with no clear signs of recovery. Solana, Avalanche, and Sui also closed lower.

Smaller tokens also suffered sharp corrections. M fell 16% to $2,2, MYX lost 12%, and PENGU lost 7%.

On a consolidated basis, the total value of the cryptocurrency market has shrunk by more than $50 billion since its last peak, falling to $4,14 trillion, even with Astar's significant appreciation.