In short: Bitcoin attempted to surpass $27,000 but failed due to low weekend trading volumes, remaining relatively still. Altcoins such as ETH and BNB also experienced little substantial price movement. However, recently launched memecoin PEPE increased by 20% over the past 24 hours, although it is still down by over 30% on a weekly scale. The larger-cap alts, including ETH, NB, XRP, ADA, DOGE, and SOL, remain relatively quiet. Bitcoin's market cap has risen to $520 billion, with a daily dominance over alts at 46.3%.
Our quick analysis:
Bitcoin has been trying to break through the $27,000 resistance level over the weekend, but trading volumes have been low, resulting in the leading cryptocurrency remaining relatively still. On the other hand, altcoins such as Ethereum have reclaimed $1,800, and Binance Coin (BNB) has seen a surge above $310.
BTC Dominance at 46.3%
BTC's price has been fluctuating over the past few days. It began with a sudden surge from $27,500 to $28,400 in a few minutes, which soon reverted, causing a steep decline by almost $2,000 to a multi-week low of $26,600. Although bulls attempted to intercept the price slump and pushed the price back up to $28,000, a continuous rejection followed, driving it back down to $27,000. As the weekend approached, BTC nosedived once again to under $26,000, its lowest point in two months. However, BTC managed to bounce back up and even challenge the $27,000 resistance level in the past 24 hours without significant success so far. Interestingly, its market cap has gone back up to $520 billion, but its dominance over the altcoins remains flat on a daily scale at 46.3%.
PEPE's Resurgence
Over the past month, the cryptocurrency community has been buzzing about the PEPE memecoin. It became the best-performing cryptocurrency in terms of market capitalization, skyrocketing from $1 million to nearly $2 trillion, making numerous investors rich overnight. The memecoin was listed on several exchanges, including BitMEX and Binance, causing it to lose over half of its value in the following days, which was tagged as a sell-the-news moment. However, the past 24 hours have been more promising for PEPE, as it has surged by 20%. But, on a weekly scale, PEPE remains down by over 30%.
Altcoins Lacking Momentum
Most larger-cap altcoins like Ethereum (ETH), Binance Coin (BNB), XRP, ADA, DOGE, SOL, and many others, have experienced little to no movement recently. This could be attributed to the crypto market taking a breather after several weeks of bullish momentum.
While Bitcoin remains flat, the crypto community is keenly watching for any significant movements in either direction. Investors should maintain a balanced portfolio and avoid making rash decisions. Mondays can be catalysts for market movements as traders hit the market. Keep an eye out for more stimulating developments, and as always, trade with caution!
Disclaimer: The above is not financial advice; readers should explore multiple sources and do their research before investing.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Bitcoin has been trying to break through the $27,000 resistance level over the weekend, but trading volumes have been low, resulting in the leading cryptocurrency remaining relatively still. On the other hand, altcoins such as Ethereum have reclaimed $1,800, and Binance Coin (BNB) has seen a surge above $310.
BTC Dominance at 46.3%
BTC's price has been fluctuating over the past few days. It began with a sudden surge from $27,500 to $28,400 in a few minutes, which soon reverted, causing a steep decline by almost $2,000 to a multi-week low of $26,600. Although bulls attempted to intercept the price slump and pushed the price back up to $28,000, a continuous rejection followed, driving it back down to $27,000. As the weekend approached, BTC nosedived once again to under $26,000, its lowest point in two months. However, BTC managed to bounce back up and even challenge the $27,000 resistance level in the past 24 hours without significant success so far. Interestingly, its market cap has gone back up to $520 billion, but its dominance over the altcoins remains flat on a daily scale at 46.3%.
PEPE's Resurgence
Over the past month, the cryptocurrency community has been buzzing about the PEPE memecoin. It became the best-performing cryptocurrency in terms of market capitalization, skyrocketing from $1 million to nearly $2 trillion, making numerous investors rich overnight. The memecoin was listed on several exchanges, including BitMEX and Binance, causing it to lose over half of its value in the following days, which was tagged as a sell-the-news moment. However, the past 24 hours have been more promising for PEPE, as it has surged by 20%. But, on a weekly scale, PEPE remains down by over 30%.
Altcoins Lacking Momentum
Most larger-cap altcoins like Ethereum (ETH), Binance Coin (BNB), XRP, ADA, DOGE, SOL, and many others, have experienced little to no movement recently. This could be attributed to the crypto market taking a breather after several weeks of bullish momentum.
While Bitcoin remains flat, the crypto community is keenly watching for any significant movements in either direction. Investors should maintain a balanced portfolio and avoid making rash decisions. Mondays can be catalysts for market movements as traders hit the market. Keep an eye out for more stimulating developments, and as always, trade with caution!
Disclaimer: The above is not financial advice; readers should explore multiple sources and do their research before investing.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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Please, behave!