Bitcoin is currently stuck at roughly $26,500 after failing to retake the $27,000 barrier. The altcoins aren’t much better, with most of the larger-cap ones experiencing slight losses. The only one with a noticeable price rise is Chainlink.
With the exception of a small increase on Saturday that brought it to a then-multi-day high of $26,400, Bitcoin had less volatility last week. BTC retraced to $26,000 and stayed there for the remainder of the weekend after failing to move higher. On Monday, Bitcoin launched an offensive and rose above $27,000 for the first time in weeks. Shortly after, it crashed, but the bulls continued to exert pressure, driving the cryptocurrency to a new 20-day high of $27,500 on Tuesday.
The following few days were very uneventful, and BTC held onto its $27,000 price even after the US Federal Reserve decided to cease rising interest rates. However, by Friday, bitcoin’s enthusiasm had vanished and price had dropped to $26,400. By day’s end, it attempted to bounce off but failed, remaining at $26,500. While its market valuation is below $520 billion, its dominance over the alternatives is still just above 49%.
On a daily basis, most altcoins are also more relaxed. While XRP, TRX, TONNE, and SHIB are marginally in the green, ETH, BNB, DOGE, ADA, DOT, MATIC, and LTC have plotted tiny losses. With a loss of more than 1%, Solana has reversed the most from the larger-cap alts. SOL has difficulty as a result. Contrarily, the native token of Chainlink has increased by around 5% and now costs more than $7. THETA, which increased by 8%, is the other big gainer among the top 100 alternative coins. Overall, the market capitalization of all cryptocurrencies has been pretty constant at just over $1.060 trillion.