Bitcoin Stalls at $30K
Bitcoin has experienced a relatively calm weekend with minimal volatility. Trading volumes have declined, resulting in insignificant daily increases and decreases for most altcoins. However, three altcoins, BONE, INJ, and SHIB, have bucked the trend.
BTC Goes on Offensive, Hits $31,500
After a calm weekend, bitcoin made a move on Tuesday, reaching just over $31,000. Unfortunately, it faced a rejection and dropped to $30,200. But the bulls rallied on Thursday and pushed the price up to $31,500, the highest it has been in over a year. However, bitcoin couldn’t maintain this momentum and fell below $30,000.
Bitcoin Rebounds, Stays Above $30K
Before the weekend, bitcoin managed to bounce back and reclaim the $30,000 milestone. Currently, it is hovering just above this level with declining trading volumes on Saturday and Sunday. Its market capitalization is close to $590 billion, and it still dominates over altcoins, accounting for 49.9% of the total market on CMC.
Key Points:
- Bitcoin has experienced a calm weekend with minimal volatility.
- Most altcoins have seen insignificant daily price changes, except for BONE, INJ, and SHIB.
- Bitcoin briefly reached $31,500, its highest price in over a year, but failed to maintain that level.
- Despite fluctuations, bitcoin has managed to stay above $30,000.
- Bitcoin’s market dominance remains steady at 49.9% on CMC.
Hot Take:
Bitcoin’s lack of substantial volatility over the weekend may be a sign of market stability, but it remains to be seen if this trend will continue. The cryptocurrency’s ability to stay above $30,000 is promising, but investors should closely monitor trading volumes and altcoin performance for potential shifts in the market.
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