Altcoin Rotation Intensifies as HYPE Gains and Privacy Tokens Fall

Crypto markets turned volatile today, as geopolitical tension from fresh US strikes in Iran triggered a broad pullback across digital assets. Privacy-focused tokens led losses, while select altcoins saw sharp intraday rotations.

Zcash fell 5% to $619 and Monero dropped 4% to $378, even though both remain among the strongest performers of recent weeks. Traders described the move as profit-taking after a strong rally supported by renewed institutional interest in privacy narratives, including attention linked to Multicoin Capital’s position disclosure.

Hyperliquid’s HYPE token briefly surpassed Dogecoin in market capitalization during Asian trading hours before slipping back. HYPE declined 4% to $59, while Dogecoin (DOGE) stayed near $0.1009 with a minor 0.8% dip. HYPE still holds a 23.6% weekly gain, supported by last week’s SpaceX pre-IPO perpetual launch on Hyperliquid.

Bitcoin held near $76,500, Ethereum traded around $2,087, and Solana stayed close to $83.97, showing limited movement overall.

Macro pressure increased as US Central Command confirmed strikes on Iranian missile sites and naval targets in the Strait of Hormuz. Brent crude climbed nearly 3% to $100, the US dollar strengthened, and gold eased 0.6% to $4,545, while S&P 500 futures rose 0.6%, reflecting mixed risk sentiment across markets.