Bitcoin Stagnates Above $26K
Bitcoin’s price has shown little movement in the past 24 hours, lacking decisive volatility. This stagnant trend is also observed in most altcoins, with SOL, TON, and MATIC experiencing the greatest losses.
BTC’s Lackluster Performance at $26K
Since the US Federal Reserve’s recent FOMC meeting, Bitcoin has displayed minimal volatility. After dropping from over $27,000 to $26,400, the cryptocurrency has remained relatively stagnant, trading sideways around $26,600 during the weekend. Although there was a brief upward movement on Sunday evening, it quickly retreated to $26,000. While BTC briefly dipped below that level on Monday, it was immediately bought up by bullish investors. However, Bitcoin has struggled to surpass $26,500 and has remained just above $26,000. As a result, its market capitalization stands at slightly over $510 billion with a dominance of less than 49% over other cryptocurrencies.
MKR Takes the Spotlight
Several larger-cap altcoins have experienced minor losses today, including Ripple, Cardano, Dogecoin, and Litecoin. Other cryptocurrencies such as Toncoin, Polkadot, Polygon, Solana, Chainlink, and LEO have also seen daily declines of up to 3%. In contrast, Ethereum, Binance Coin, and Tron have recorded insignificant gains. MakerDAO’s native token, MKR, has been the standout performer, surging by 6% in the past 24 hours and nearly 10% weekly. Consequently, it is now trading above $1,400. The overall cryptocurrency market cap has remained sluggish at just over $1.050 trillion.
Hot Take: BTC Flatlines Above $26K, MKR Explodes 9% Weekly
Bitcoin’s price remains stagnant above $26,000 while altcoins experience mixed performance. MKR stands out as the top performer with a significant weekly surge of nearly 10%. With the crypto market cap remaining relatively sluggish, it will be interesting to see if Bitcoin can break free from its current range and spark greater volatility in the coming days.
By
By
By