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Bitcoin's atypical lack of volatility continues as the asset failed to break the $41,500 mark over the weekend. Most altcoins are currently somewhat subdued, with currencies like ETH, SOL, XRP, BNB, and ADA experiencing slight increases.
The stagnation of BTC persists
Last week, as ETF approval was granted, Bitcoin's volatility intensified, with price swings reaching thousands of dollars. On Thursday, when the product hit the U.S. financial markets, Bitcoin surged to a 21-month high of $49,000.
However, within a few hours, all gains were erased, dropping further to $41,500 on Friday night. As Saturday arrived, the cryptocurrency recovered some losses, reaching around $43,000. From that point onwards, actual price movement has been minimal.
In fact, over the past week, Bitcoin has remained around or below this level. This weekend has been relatively calm as the asset struggles to break $42,000. Its market cap still hovers slightly above $815 billion, quietly falling below 50% relative to the dominance of alternative trades.
Most alternative tokens have also shown weakness in the same week. In the past 24 hours, larger market cap stocks such as ETH, SOL, XRP, BNB, ADA, DOT, and TRX have all risen by around 1%. Avalanche, Toncoin, and Polygon have each risen by approximately 3%. However, Dogecoin has taken the spotlight with an 8% increase, currently priced above $0.085.
More gains come from tokens like Ronin, PYTH, SC, and ASTR, with increases reaching double digits.
The cryptocurrency total market capitalization on CMC has recovered yesterday's losses, reaching $16.40 trillion. |
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Post time 2-2-2024 04:57:50