Bitcoin has been trading at just above $27,000 over the weekend, remaining stuck amid lower trading volumes. While altcoins have been quiet on a daily scale, some such as LDO, INJ, and QNT have produced massive weekly gains. Last Monday, Bitcoin initiated a massive leg-up that resulted in tapping a three-week high at $28,500. This came after the initial deal reached by the US government in regard to the nation’s debt ceiling. However, the asset failed to continue upwards and returned to $28,000 by Tuesday.
On Wednesday, Bitcoin saw a significant $1,000 price drop, which was mimicked by a similar drop a day later. Ultimately, BTC dropped to a weekly low on Friday morning, falling under $26,600. The bulls managed to intercept the move, and bitcoin recovered some of the losses by the time the weekend arrived. However, the past two days have been uneventful, and the cryptocurrency remains stuck at just above $27,000 amid typically low weekend trading volumes.
Altcoins and Overall Crypto Market Cap
The larger-cap altcoins have mimicked BTC’s performance during the weekend, meaning there have been little-to-no volatile movements. ETH still stands at precisely $1,900 after going below and over that level during the week, despite a minor daily setback. Binance Coin, Ripple, Dogecoin, Polygon, Litecoin, Shiba Inu, and Avalanche have all added less than 1% in the past 24 hours. ADA, SOL, and DOT are up by somewhere between 1-2%.
Yesterday’s top performer – TRON – has dumped hard today by almost 5%. However, looking at the charts on a weekly scale provides a different picture for several alts. Lido DAO, Injective, and Quant have all soared by over 15% within the past seven days. In total, though, the crypto market cap has remained relatively sluggish in the past two days and sits close to $1.150 trillion. BTC’s total capitalization is at $525 billion, and its dominance over the alts is at the same place as yesterday – 45.9%.
Bitcoin has experienced significant fluctuations in the past week, with a $1,000 price drop on Wednesday and a weekly low on Friday morning. However, the bulls managed to intercept the move, and bitcoin recovered some of the losses by the time the weekend arrived. Altcoins have been relatively quiet on a daily scale, with some producing massive weekly gains. The crypto market cap has remained sluggish over the past two days, with BTC’s total capitalization at $525 billion and its dominance over the alts at 45.9%.