BTC Gets Boring: Bitcoin Continues Sideways Trading
– Last week saw enhanced volatility in the crypto space, but Bitcoin has been relatively quiet for the past three days.
– Altcoins are also calm, with XRP experiencing the largest surge among larger caps, while BNB has retraced by over 2%.
– A recent ruling in the legal battle between the SEC and Ripple, in favor of Ripple, had an immediate impact on all assets, including Bitcoin.
– Bitcoin initially surged to a 13-month peak at over $31,800, but quickly retraced by several hundred dollars.
– Bitcoin’s market capitalization remains at $590 billion, with a dominance over altcoins at 48.5%.
Bitcoin’s lack of major movement and the overall quietness in the crypto market may be disappointing for some traders. However, the recent ruling in the SEC vs Ripple case showcases the potential impact of regulatory decisions on the entire crypto space. It is important for crypto readers to closely follow such legal battles as they can have significant implications for various cryptocurrencies. Despite the current stagnation, the volatility in the market is a reminder that price swings can occur at any moment, keeping the crypto space exciting and unpredictable.
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