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 $40K
Bitcoin’s price went through some enhanced volatility in the past week or so as it all started from the asset’s inability to overcome $47,000 decisively. The bears took advantage of this and started pushing it south, with BTC slumping to $45,000 and $43,000 in a matter of 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 bounced off after the second drop below that level and spiked to nearly $42,000 a few days ago. However, the generally bearish sentiment in the market continued and pushed BTC down again. As of now, the asset stands 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.
Just last week, Ethereum dumped below $3,000 for the first time in about 20 days, but the second-largest crypto reacted well and currently sits 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 have 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.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.