Bitcoin’s price movements have been somewhat lackluster over the weekend, with the asset hovering around $64,000. This comes after a week of significant volatility that saw the cryptocurrency fall from $69,000 to under $61,000 before rebounding and hitting $68,000. However, the rally was short-lived, and Bitcoin is now struggling to stay above $66,000. Profit-taking by investors and uncertainty surrounding the FOMC meeting have been cited as reasons for the recent price swings.
Altcoin Performance
While Bitcoin has been relatively stable, altcoins have also experienced mixed results. Ethereum, Solana, and Binance Coin have seen minor losses, while XRP, ADA, SHIB, and DOT have made modest gains of 1-2%. Dogecoin, on the other hand, has emerged as the top performer among the top 15 cryptocurrencies, surging by 7% overnight to trade above $0.17. Other altcoins like Bitcoin Cash, ICP, and OKB have also recorded impressive gains, with OKB seeing an 8% increase in price.
Total Market Cap
Despite the mixed performance of individual cryptocurrencies, the total crypto market cap has seen a slight decline, currently standing at just over $2.560 trillion on CoinGecko. Bitcoin’s market cap remains flat at $1.260 trillion, with its dominance at just above 49%. Overall, the cryptocurrency market continues to experience fluctuations as investors digest the latest news and developments in the space.
While Bitcoin remains the dominant force in the crypto market, its recent price movements reflect the overall uncertainty and volatility in the space. Altcoins have shown varied performance, with some gaining while others experiencing losses. As the market continues to evolve, investors should be prepared for more twists and turns in the coming days.
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