Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Following the recent price fluctuations, bitcoin has stalled and remains just above the coveted $40,000 mark. The altcoins are also untypically stable today, with Ethereum maintaining $3,000 and Binance Coin sitting well above $400.
Bitcoin Stable Above $40K
Bitcoinâs price went through some enhanced volatility in the past week or so as it all started from the assetâs inability to overcome $47,000 decisively. The bears took advantage of this and started pushing it south, with BTC slumping to $45,000 and $43,000 in a matter of days.
The situation worsened when the cryptocurrency fell below the January 2021 ATH of $42,000. The nosedives continued, and shortly after, bitcoin declined to a monthly low beneath $40,000.
It bounced off after the second drop below that level and spiked to nearly $42,000 a few days ago. However, the generally bearish sentiment in the market continued and pushed BTC down again. As of now, the asset stands at just over $40,000, and its market capitalization sits at $770 billion.
BTCUSD. Source: TradingView
Altcoins Remain Calm
The alternative coins registered similar fluctuations in the past several days but have calmed on a daily scale.
Just last week, Ethereum dumped below $3,000 for the first time in about 20 days, but the second-largest crypto reacted well and currently sits above that line.
Binance Coin also fell beneath a round-numbered milestone â $400 â but it now trades at $415.
On a daily scale, Ripple, Solana, Terra, Avalanche, Dogecoin, and Shiba Inu are slightly in the red, while Cardano and Polkadot have marked minor increases.
Even the lower- and mid-cap altcoins are calm today, with Ethereum Classic being one of the most impressive gainers (3.5%). Somewhat expectedly, the crypto market cap has remained flat and sits below $1.9 trillion.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.