cryptopotato.com
Bitcoin tried its hand at taking down $27,500 yesterday once again but was rejected and pushed back down south.
Most altcoins are also in the red today, with ETH slipping below $1,900. XRP, on the other hand, is up by just over 2% in a day.
$BTC Down Below $27K
Despite the positive start last week, which took $BTC up north to a three-week high at $28,500, the seven-day period didn’t end all that well for the asset. It tumbled on Friday to a weekly low of $26,500 (on Bistamp) but managed to recover some of the losses by the weekend.
As with the previous few, the weekend was quite calm, with $BTC spending most of it at around $27,000. It initiated a leg-up that drove it to a multi-day high of just under $27,500, but the bears intercepted the move and didn’t allow any further increases.
Just the opposite, bitcoin headed straight south, which drove it to its lowest position since Friday, below $27,000. Consequently, $BTC’s market capitalization has declined by over $5 billion in a day to $520 billion. Its dominance over the alts has also taken another slight hit and is down to 45.8%.
$SAND Defies Market Sentiment
Most altcoins have followed $BTC south. Ethereum is a prime example, as it has dropped below $1,900 following a minor daily decline. Binance Coin is also close to breaking below $300 after a 2% drop.
Cardano, Dogecoin, Polygon, Polkadot, and Shiba Inu have all declined by similar percentages. Litecoin has lost even more value, as LTC is down by almost 3% in a day.
Ripple, Solana, Tron, and Avalanche, on the other hand, have posted insignificant gains. The Sandbox is the only notable gainer in the past 24 hours. $SAND is up by more than 5% and trades at $0.6.
The total crypto market cap, though, has seen over $15 billion gone since yesterday’s peak and is down to $1.135 trillion.
