Bitcoin’s adverse price actions took the asset south to $107,000 hours ago, but it managed to react well and regained some traction.
Most altcoins continue with their indecisive moves, with XRP and SOL trading slightly in the green, while ADA and HYPE have marked minor gains.
BTC Slipped to $107K
The previous business week began on the wrong foot for the primary cryptocurrency as it slumped from over $115,000 on Sunday evening to under $111,000 by Monday morning. Despite a brief recovery attempt to $113,500, the bears kept the pressure on in the following days, and BTC slumped to under $109,000 mid-week.
Another unsuccessful bounce off took place on Thursday, but the overall bearish momentum continued and put even more selling pressure on the cryptocurrency. As a result, BTC slipped below $108,000 during the weekend and even lower, to just over $107,000 on Monday morning. This became its lowest price tag since July 4.
Bitcoin finally jumped after this decline and has added $2,500 since then, currently trading close to $110,000. Here are some more factors that could lead to enhanced volatility this week.
For now, though, BTC’s market cap has calmed at just over $2.180 trillion, while its dominance over the alts stands at 56.2%.
TRUMP Rockets
Most altcoins followed BTC on the way south in the past week or so. On the daily charts, red still dominates but in a less painful manner. ETH is just under $4,500 after a minor decline, while XRP struggles to remain above $2.8. SOL, DOGE, TRX, SUI, LINK, and XLM are also slightly in the red.
CRO and PI, which were among the few altcoins in the green at the end of the previous week, are deep in the red now. CRO has plunged by 5%, while Pi Network’s token has dropped by over 8%.
The total crypto market cap has neared $3.9 trillion on CoinGecko, after dipping to $3.8 trillion earlier today.
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Cryptocurrency charts by TradingView.