Bitcoin’s price performance over the past 24 hours is hardly surprising given the lower trading volumes during the weekends, and the asset has not moved an inch from its $26,000 level.
The altcoins are also highly stagnant on a daily scale, but some have posted notable losses since last Sunday.
BTC Boring at $26K
Bitcoin was in a similar situation last week – meaning it had stalled for weeks at around $29,000 – before a sudden price dump took it south by over $3,000 to chart a two-month low. It tried to recover some of the losses but eventually settled at $26,000.
The previous weekend was uneventful, and the asset stood quietly at around that line again. Nothing really changed at the start of the business week, and BTC failed to make a move.
It finally did on Wednesday when it dipped by over $500. However, the bulls quickly intercepted the move and pushed the cryptocurrency north. This Thursday brought a more notable price increase that drove bitcoin all the way up to $26,800.
Nevertheless, BTC failed there and returned to $26,000, where it has been stuck for the past 48 hours. As a result, its market capitalization has remained at under $510 billion, and its dominance over the alts is just shy of 48.5%.
BTCUSD. Source: TradingView## The Weekly Losses
Although they are more volatile by nature, the alternative coins have also been quite sluggish in their price movements over the past few days and the weekend has not changed that.
Aside from TONCOIN, which is up by over 3% today, most other larger-cap alts are with minor gains, like in the case of Ripple, Cardano, Ethereum, Solana, Dogecoin, and Polkadot, or with insignificant losses, like BNB.
The weekly performances are quite different, though, led by PEPE’s massive 20% dump. This came earlier this week amid suspicious transfers and claims about doxxing the meme coin’s creator.
RUNE, APE, and XDC follow suit with losses of up to 17% for the past week.
Nevertheless, the total crypto market cap has remained at essentially the same spot as yesterday at $1.050 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
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