Bitcoin’s Recent Price Movement
Bitcoin recently dipped below $29,000 but has since bounced back and is currently sitting above that level. The altcoins, including DOGE and XRP, also experienced price declines but have seen some minor gains today.
BTC’s Maintains $29K
Last week, Bitcoin remained relatively stable, trading in a tight range of around $30,000. On Sunday, the cryptocurrency attempted to break out and briefly surpassed $30,300. However, this breakout turned out to be short-lived, and BTC started losing ground, eventually dropping to just under $29,000 – its lowest price in over a month. Despite this dip, Bitcoin has managed to recover some ground and is currently trading a few hundred dollars above $29,000.
Market Capitalization and Dominance
Bitcoin’s market capitalization is still struggling below $570 billion, while its dominance over the altcoins remains at 48.4%.
Hot Take
Bitcoin’s recent price movement highlights the volatility of the cryptocurrency market. While BTC has managed to bounce back from its monthly low, it is still facing challenges in surpassing key resistance levels. As the market continues to fluctuate, it is important for crypto readers to stay informed and monitor these price movements closely.
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