Bitcoin Stagnates at $43,000 Level
Bitcoin’s price has remained stagnant, failing to move from its $43,000 level for several days and weeks. The cryptocurrency experienced a few pumps to $43,750 last week but was rejected each time. It suffered a significant drop after the last rejection but managed to recover some ground over the weekend. Since then, Bitcoin has made minimal moves, aside from a small pump and dump. It currently trades just above $43,000 with a market capitalization of over $845 billion and a dominance of 51.2% over altcoins.
XMR Drops Following Binance Delisting
Binance’s announcement of the delisting of Monero (XMR) caused the privacy token’s price to plummet by double digits. XMR is down over 20% on a weekly scale and is currently trading just above $120. Other large-cap altcoins like ETH, BNB, XRP, AVAX, DOGE, TRX, DOT, and MATIC have seen minimal gains or are slightly in the green. However, LINK and ADA have experienced the most significant declines at 4% and 3%, respectively. The total crypto market cap remains at $1.650 trillion for the third consecutive day.
Hot Take: Bitcoin Stuck in a Rut as Altcoins Show Mixed Performance
The lackluster movement of Bitcoin’s price has left many investors waiting for a breakthrough. While altcoins have displayed mixed performance, with some showing slight gains and others experiencing losses, it is clear that Bitcoin’s dominance remains unchallenged for now. The recent delisting of Monero by Binance has had a significant impact on XMR’s price, highlighting the vulnerability of privacy tokens in the current regulatory landscape. As the crypto market continues to navigate through these developments, traders and investors must closely monitor the price movements and news surrounding both Bitcoin and altcoins.
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