Altcoins
Bitcoin (BTC) Price Unstable at $67,000, Altcoins Turn Red (Market Watch)
Bitcoin’s price has dipped below $67,000 on a few occasions over the past 24 hours, but has responded well to each correction and is now back at that line.
Altcoins are slightly in the red on a daily scale, with TON, ADA, and SHIB retracing around 3%.
BTC goes up and down
It was less than a week ago – last Tuesday – when the price of the primary cryptocurrency had dropped to just over $61,000 due to some issues at Coinbase. However, the asset rebounded almost immediately and began a notable rally on Wednesday following the announcement of the US CPI data.
In a matter of hours, BTC jumped by several thousand dollars and surpassed $66,000. It corrected to just under $65,000 on Thursday, but has reversed its trajectory once again by the end of the week.
This culminated in a pair of price increases above $67,500, the latest of which occurred on Sunday. However, the bears intercepted the move and pushed BTC to just under $66,000. A little more volatility followed with another brief decline, but bitcoin currently sits near $67,000 once again, losing less than 0.5% in a day.
This means that the cryptocurrency’s market capitalization remains around $1.320 trillion and its dominance over alts is close to 52%.
Bitcoin/Price/Chart 05.20.2024. Source: TradingView
Alts See red
Most altcoins have mimicked BTC’s performance over the past 24 hours, recording minor losses. ETH is close to falling below $3,100 after a 0.4% daily decline. anticipation SEC decision on Ethereum ETFs grows. Binance Coin fell by a similar percentage to $576.
Biggest losses from larger-cap alts come from XRP, DOGE, AVA, DOT, TRX and BCH, while TON, SHIB and ADA are down 2.5-3%.
In contrast, Solana’s native token increased by 2.5% and stands near $180. WIF, PEPE, NEAR and GRT are also slightly green.
The total cryptocurrency market capitalization has lost value since yesterday and is now just under $2.550 trillion on CG.
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Cryptocurrency charts from TradingView.