cryptopotato.com
Bitcoin spiked to a multi-day high above $26,400 yesterday, but that was short-lived, and the asset has returned to a familiar sight at under $26,000.
The altcoins are also slightly in the red today, with BNB, ADA, and $SOL retracing by over 1%.
$BTC Fails at $26K
Bitcoin’s price performance has been anything but impressive for the past 10 days or so, ever since it shot up by $2,000 and then dumped by almost $3,000 days later after Grayscale’s win over the SEC.
The subsequent violent rejection pushed the asset to an 11-week low of $25,350. The bulls finally stepped up at that point and helped bitcoin recover some ground by the time last weekend had arrived. As such, $BTC stood calmly at under $26,000.
The following days, including most of the business week, went by uneventfully, with the cryptocurrency stuck at the same spot. It finally made a move upwards yesterday when it pumped to a multi-day high at over $26,400.
However, that turned out to be a false breakout, and $BTC has lost all the momentum, trading below $26,000 once again now. Its market cap is still just inches above $500 billion, and its dominance over the alts is back down to 48.3%.
$XLM in Green
Most alternative coins have mimicked $BTC’s performance as of late, with minor gains yesterday and subsequent retracements today. Ethereum, Ripple, Dogecoin, Tron, Polkadot, Polygon, and Shiba Inu have all declined by up to 1%.
More losses come from the likes of Binance Coin, Cardano, Litecoin, and Solana, with $SOL dropping by about 2%.
Stellar’s native token is the only notable exception from the larger-cap alts. $XLM is up by over 4% in a day and trades above $0.13.
Naturally, the total market cap has also lost yesterday’s gains and is back down to $1.040 trillion on CMC.
