Bitcoin has finally calmed down after the recent volatility, and the asset currently trades inches away from $28,000.
Most altcoins are slightly in the red today, with ETH slipping below $1,800 and XRP settling between $0.5 and $0.55.
Bitcoin Stalls Below $28K
The primary cryptocurrency dumped hard on Monday from over $28,000 to $26,500 after the US CFTC sued the world’s largest digital asset exchange – Binance – and its CEO – Changpeng Zhao. Bitcoin stalled beneath and around $27,000 for a day or two, but the bulls reminded of their presence mid-week.
They pushed the asset north, culminating in a price surge to over $29,000 on Thursday. However, that was short-lived as BTC failed to continue upward or even remain at the same levels. It started losing value fast and went back down to $28,000 hours later.
The past 24 hours brought more pain as the cryptocurrency dropped further to under $27,600. It has recovered some ground since then but still stands beneath $28,000.
Its market capitalization has declined to $535 billion. Its dominance over the alts has also taken a hit and is down to 46% after surging past 46.5% yesterday.
HBAR Skyrockets, XPR Calms
Ripple’s native token has been among the top performers in the past few weeks, perhaps fueled by speculation about positive developments in the company’s legal case against the US Securities and Exchange Commission. This rally drove XRP up by 60% weekly at one point. The asset has now finally calmed down on a daily scale and sits close to $0.55.
Ethereum. Binance Coin, Dogecoin, and Shiba Inu are with minor losses, while MATIC, SOL, and LTC have retraced by up to 3% in a day. In contrast, ADA, DOT, TRX, and AVAX have posted insignificant gains.
HBAR is the best performer from the mid-cap alts, having surged by 9% and trading at $0.07.
With most other mid- and lower-cap altcoins charting minor losses, the overall crypto market cap has seen $30 billion gone in a day.
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Cryptocurrency charts by TradingView.