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Bitcoin Dipped Below $19K: Crypto Eyes Another Red Week (Market Watch)


cryptopotato.com 03 July 2022 09:49, UTC
Reading time: ~2 m

Bitcoin’s weekend continues to be calmer than the previous several days as the asset sits still around $19,000. The altcoins are in a similar position, with little-to-no significant movements from the larger-cap ones.

Bitcoin Stays Still at $19K

Last week didn’t end all that well for the primary cryptocurrency, which had actually spiked to nearly $22,000 at one point. However, as it has happened numerous times in the past several weeks, it failed to continue upwards and reversed its trajectory rather quickly.

Thus, BTC found itself dropping to $21,000 a day later and to $20,000 shortly after. As June was coming to an end, marking one of bitcoin’s worst quarters in its history, the asset further plummeted to a new 10-day low of around $18,600 (on Bitstamp).

Then came a surprising pump higher, and BTC jumped to $21,000 but returned below $20,000 minutes later. Since then, the cryptocurrency has remained rather still at around $19,000, where it’s currently positioned as well.

Consequently, its market capitalization has stalled at $365 billion, but its dominance over the altcoins is down to 42.2%.

Altcoins Stagnent, Too

The altcoins also went down during the week, but most have calmed since the start of the weekend.

Ethereum came close to breaking below $1,000 but managed to retain that level. As of now, ETH trades at around $1,050. BNB is close to $220 after a minor daily increase.

Cardano and Solana are also slightly in the green on a 24-hour scale, while Ripple, Dogecoin, Shiba Inu, and LEO are just in the red. TRON has lost the most from the larger-cap alts with a 3% decline.

Theta Fuel is among the few impressive gainers with an 11% daily increase to above $0.05.

Somewhat expectedly, the crypto market cap has also remained rather stagnant at just over $850 billion.



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