Bitcoin Can’t Top $26K, BTC Addresses in Loss at 7-Month High: Market Watch

Bitcoin faced some volatility yesterday, which included a $600 pump and dump, but overall has calmed below $26,000 once again.

The alternative coins are also displaying untypical stability, with little to no movements from the likes of ETH, BNB, XRP, ADA, and others.

BTC Addresses in Loss Soar

The primary cryptocurrency went through a volatile rollercoaster over a week ago when it skyrocketed by more than two grand in hours following Grayscale’s win over the SEC. However, it lost all momentum within the next few days and dumped to even lower levels at $25,350.

It managed to recover some of the losses and came inches away from $26,000 by the time the weekend had arrived. Since then, not much has happened with its price movements, aside from a brief dip to $25,400 yesterday, followed by an uptick that was stopped at $26,000.

As of now, the asset remains stuck at around $25,700, with its market cap sitting uncertainly at just over $500 billion and its dominance over the alts at 48.2%.

According to data from Glassnode, though, the number of BTC addresses in loss has started to climb again and has registered a 7-month peak.

BTC Addresses in Loss. Source: Glassnode

Alts Sit Quietly

Most larger-cap alts have failed to produce significant price movements over the past day as well. On the one hand, assets like ETH, BNB, TRX, DOT, MATIC, and LTC trade with minor gains, while on the other, alts like XRP, ADA, DOGE, and SOL have charted slight losses.

The most notable gainer from the top 20 alts is TONCOIN. TON is back on the offensive again with a 5% surge that has pushed it beyond $1.8. Further jumps come from ASTR, RUNE, and KAS.

Nevertheless, the cumulative market cap of all crypto assets has remained relatively still at under $1.050 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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