After trading sideways for several days without any upward movement, bitcoin finally turned on the offensive in the last 24-hours and moved closer to $27,000.
Nevertheless, the primary cryptocurrency has outperformed SOL, ADA, TON, MKR and others.
BTC closing in on $27K?
After last week’s carnage, which brought bitcoin from roughly $29,000 to $25,300 (a two-month low) in a single day, the asset is starting to show increasing signs of stagnation. The next several days, including a generally less volatile weekend, were fairly boring, with BTC hovering around $26,000.
The only more notable move came yesterday when bitcoin fell over $500 but recovered losses almost immediately.
Thus, it calmed down around $26,000 before the bulls stepped on the gas pedal and pushed it north to $800. This resulted in a 6-day high of $26,800.
So far, BTC has lost some momentum, but it is still up more than 1% on the day. Its market cap is close to $515 billion, and its dominance of alts is close to 48.5%.
BTCUSD. Source: TradingView
Alts See Green (Finally)
Altcoins suffered an equally or worse fate when BTC declined last week, failing to generate any significant gains in the following days.
Today’s outlook seems to be more positive, with green color dominating the chart. Ethereum is near $1,700 after a 1.7% increase, BNB has gained $220 after a 2.5% increase, while XRP has maintained $0.5 after a 1.5% increase.
Cardano, Solana and Toncoin have performed even better, with gains of up to 4% in terms of SOL, which is now well above $20.
HBAR, ICP and MKR have gained the most among mid-cap stocks, ranging between 5-6% daily.
The total crypto market cap has increased by over $10 billion per day and is now above $1.060 trillion.
