This weekend resembles quite a lot the previous one as there are little-to-no substantial movements in the crypto market. Bitcoin has stalled around $21,000, while most altcoins are just slightly in the red as the trading volume has plummeted to a monthly low.
Bitcoin is tight at $21,000
As the last weekend drew to a close, including Monday, which was the United States National Day, the major cryptocurrency went on the offensive and hit $20,000. It took a few tries, but he eventually broke through that level and continued to hit new highs in the following days.
Thursday saw the most significant price increase as BTC jumped to just shy of $22,500. This became the asset’s highest price level since mid-June.
The bulls were expecting another head start at this point, but failed and bitcoin retreated a few hundred dollars. Yesterday it fell below $22,000 and now sits just over $21,000.
It’s worth noting, though, that the overall trading volume slumped yesterday to its lowest levels in just over a month, according to Bitcoinity.
Despite the slight daily retracement, BTC’s market cap still sits above $400 billion and its dominance over altcoins is just over 43%.
Altcoins Stand Still
Typically known for their higher levels of volatility, the altcoins have performed rather unexpectedly in the past few days with little-to-no movements.
Ethereum lost around 3% in value over the past day and fell below $1,200. Just a few days ago, the asset hit a multi-week high above $1,250.
BNB, Solana, and Polkadot are down by similar percentages in a day to under $240, below $40, and $7.1, respectively.
Ripple, Cardano, Dogecoin, Tron and Avalanche are also slightly in the red, while Shiba Inu is up just over 1%. Litecoin benefited the most from larger cap alts with a 4% increase.
The cumulative market cap of all crypto assets is at almost the same level as yesterday, just under $950 billion.
