Bitcoin Dipped Below $26K Again, Sui Soars 8% Daily (Market Watch)

After days of trading sideways, bitcoin finally made a move in the past 24 hours, but it was not in favor of the bulls.

Several altcoins are performing better today, including larger-cap ones such as BNB, SHIB, and TONCOIN.

BTC’s Latest Drop

It was less than a week ago when the primary cryptocurrency plummeted hard by a few thousand dollars to a two-month low of $25,300. This came amid speculations that SpaceX had sold off its remaining BTC holdings.

Bitcoin reacted well at first and quickly recovered more than a grand. However, it couldn’t sustain its movement and retraced back down to $26,000 by the time the weekend had arrived.

The next few days were highly uneventful as the asset remained stuck at that level. The start of the business week didn’t bring any fireworks either, and BTC was flatlined for most of it.

A move finally occurred in the past 24 hours when bitcoin slumped by more than $500 once again toward $25,000. Nevertheless, it bounced off, at least for now, and is back at $26,000.

Its market capitalization has maintained above $505 billion, and its dominance over the alts is still at 48.3%.

BTCUSD. Source: TradingView## BNB, SHIB, TON in the Green

Most alts mimicked BTC’s performance as of late, but a few have managed to register impressive gains on a 24-hour scale. Binance Coin, Shiba Inu, and TONCOIN lead the pack, with all three jumping by around 3% daily. As such, BNB sits above $215, SHIB is at $0.00000826, and TON is close to $1.4.

In contrast, ETH, SOL, and LTC have retraced by about 2%. HBAR and MKR have dumped even more – in the case of the latter, the daily decline is more than 7%.

Astar’s ASTR and SUI have taken the main stage when it comes down to daily gains. ASTR is up by 10% and has found a place among the top 100 alts by market cap, while SI has jumped by 8%.

The total market cap is still stuck at $1.050 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto