After falling by $6,000 in a few days, bitcoin tried its hand at $40,000 once again but to no avail. Most altcoins have stalled since yesterday with little-to-no movements, except for Monero, which has marked a sizeable price increase.
Bitcoin struggles below $40,000
It is safe to say that the last few days have not gone well for the main cryptocurrency. The asset had recouped all the losses that occurred after Russia invaded Ukraine and even hit new monthly highs.
This resulted in tapping $45,000 on a couple of occasions, but the bears stepped up after the second and pushed BTC south. In the following days, bitcoin lost some value gradually before it plummeted by $3,000 late on Friday.
Consequently, the cryptocurrency fell below $39,000 for the first time in five days. It bounced off the start and approached the coveted $40,000 line a few hours later, but was stopped there.
As of now, BTC struggles around $39,000, and its market capitalization has remained well below $750 billion.
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Altcoin stall
After the recent rollercoaster ride, most altcoins have calmed down now. Ethereum went from dumping $2,200 to over $3,000 a few days later before returning to around $2,600 where it currently sits.
Binance Coin, Ripple, and Polkadot are slightly in the green, while Solana, Cardano, MATIC, Dogecoin, and Shiba Inu have lost some traction since yesterday.
Terra, Avalanche, and ATOM declined the most compared to larger-cap alts. LUNA is down 2.5%, AVAX 3% and ATOM more than 4%.
Monero is among the few assets with impressive price increases as XMR is up by 7% and sits above $170.
