Bitcoin Returns to $43K
After briefly reaching $43,750 last week, Bitcoin has returned to its recent stagnation point of $43,000. Despite attempting to overcome $44,000, the asset faced a strong rejection and dropped by almost two grand. However, BTC managed to recover some losses and stabilize at $43,000. In the past 24 hours, there was a slight increase to $43,500, followed by a rejection that pushed BTC down by over $1,000. Nevertheless, the bulls prevented a breakdown below $42,000 and BTC is now back at $43,000 with a market cap of over $840 billion.
ENS Surges
Altcoins have also been relatively calm in their price performance recently. In the last 24 hours, ETH, XRP, TRX, LINK, MATIC, and TON saw minor gains while BNB, ADA, AVAX, and SOL experienced slight losses. XMR has suffered the most among the top 36 altcoins with a loss of over 15%, bringing its value down to $140. On the other hand, TAO has surged by 15% and OP has gained just over 6%. Ethereum Name Service (ENS) has made a comeback in the top 100 altcoins with a massive 25% daily surge. ENS now trades above $22 with a market cap of nearly $700 million.
Total Crypto Market Cap Remains Steady
The total crypto market cap currently stands at $1.650 trillion on CMC.
Hot Take: Bitcoin Stuck at $43K as Altcoins Show Mixed Performance
Bitcoin’s price has been unable to break free from its recent stagnation point of $43,000. Despite several attempts to overcome $44,000, the asset faced strong rejections and experienced price fluctuations. Altcoins, on the other hand, have shown mixed performance, with some minor gains and losses across various cryptocurrencies. Notably, Ethereum Name Service (ENS) has made a significant surge and reentered the top 100 altcoins. Overall, the total crypto market cap remains steady. As the market continues to evolve, it will be interesting to see if Bitcoin can break out of its current range and if altcoins can find more stability in their price movements.
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