Unlike the previous week, which was full of volatility, the past seven days were quite more stagnant in the cryptocurrency space. Bitcoin, for one, had calmed around $19,000 after the most recent price drops and spent the weekend as well as Monday at that level.
The situation changed on Tuesday when it initiated an impressive leg up, resulting in a price surge to over $20,000 for the first time in 12 days. However, the bears tightened their grip on the market and pushed the asset south. In a matter of hours, BTC had dropped below $18,500. Nevertheless, it bounced off and has returned to a familiar trading range between $19,000 and $20,000.
It’s worth noting, though, that bitcoin’s dominance over the altcoins took a breather this week. The metric had fallen to 37.5% last Friday, but it touched 40% yesterday before declining slightly to about 39.5%.
ETH continues to underperform. In the two weeks since the Merge took place, the second-largest crypto lost over $400 at one point. The past seven days saw a push to $1,400, which was halted in its tracks, and ETH is back down to around $1,300.
Ripple, on the other hand, is once again making headlines. The blockchain company’s lawsuit against the US Securities and Exchange Commission took another positive turn, and the native token reacted with a double-digit price surge today.