Aside from a brief pump and dump of around $500 yesterday, bitcoin has remained relatively stagnant at just under $27,000.
Although generally more volatile by nature, the altcoins have also failed to produce any significant moves in the past day. Injective is among the few exceptions.
After the enhanced volatility at the end of last week, which resulted in BTC dumping to a two-month low of under $26,000, the cryptocurrency has been trading with a lot fewer fluctuations. Last weekend was predominantly calmer as the asset recovered some losses and spent it around $27,000.
Monday saw a price jump to just over $27,600, but that was short-lived. A day later, bitcoin dropped by over a grand. However, it initiated another leg-up that was stopped at $27,500. This time, the rejection was even more violent and pushed the asset south to under $26,400.
The bulls intercepted the move and didn’t allow any further declines. They recovered some ground and bitcoin returned to familiar ground at around $27,000 once again. It briefly pumped and dumped yesterday but overall has remained stuck at its current position.
As such, its market cap still stands at $520 billion, and its dominance over the alts is at 46.3%.
Similar to bitcoin, most altcoins have also remained stagnant on a daily scale. ETH was close to dumping below $1,800 yesterday, but it has managed to defend that level and currently sits inches above it.
Binance Coin has slipped below $310 after a minor daily decline. Dogecoin, Polygon, Polkadot, Ripple, Shiba Inu, and Avalanche are also slightly in the red.
Cardano, Solana, and Litecoin have dropped a bit more today, with losses of up to 2%.
In contrast, AGIX has entered the top 100 after a massive 15% daily surge. KAVA and INJ follow in terms of daily gains – 7% each. Moreover, INJ is up by 20% for the past seven days.
The total crypto market cap, though, is stuck at just over $1.120 trillion on CMC.
Cryptocurrency Market Overview. Source: Quantify Crypto
The post Injective Jumps 20% Weekly, Bitcoin Stalls Below $27K: Weekend Watch appeared first on CryptoPotato.
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