Following the recent price fluctuations, bitcoin has stalled and remains just above the coveted $40,000 mark. The altcoins are also untypically stable today, with Ethereum maintaining $3,000 and Binance Coin sitting well above $400.
Bitcoin stable above $40,000
Bitcoin’s price has seen heightened volatility over the past week, as it all started with the asset’s inability to decisively overcome $47,000. The bears took advantage of this and started pushing it south, with BTC dropping to $45,000 and $43,000 within days.
The situation worsened when the cryptocurrency fell below the January 2021 ATH of $42,000. The nosedives continued, and shortly after, bitcoin declined to a monthly low beneath $40,000.
It rebounded from the second drop below this level and hit close to $42,000 a few days ago. However, the generally bearish sentiment in the market continued and pushed BTC lower again. At present, assets stand at just over $40,000 and its market capitalization sits at $770 billion.
Altcoins Remain Calm
The alternative coins registered similar fluctuations in the past several days but have calmed on a daily scale.
Top of Form
Just last week, Ethereum dropped below $3,000 for the first time in about 20 days, but the second-largest crypto has reacted well and is currently sitting above that line.
Binance Coin also fell beneath a round-numbered milestone – $400 – but it now trades at $415.
On a daily scale, Ripple, Solana, Terra, Avalanche, Dogecoin and Shiba Inu are slightly in the red, while Cardano and Polkadot marked minor increases.
Even the lower- and mid-cap altcoins are calm today, with Ethereum Classic being one of the most impressive gainers (3.5%). Somewhat expectedly, the crypto market cap has remained flat and sits below $1.9 trillion.
