Bitcoin broke below $ 30,000, and Ethereum seems to be struggling to hold over $ 2,000. Overall, the cryptocurrency market which is in the red. In spite of everything, the market seems to be, at the moment, quieter than last week.
Disturbed activity on the part of BTC
The least we can say is that Bitcoin has been suffering from very high volatility in recent weeks.
After recently seeing a $ 15,000 price drop, from $ 40,000 to $ 25,300 (which, by the way, was the lowest level in several months), BTC rose slightly in the ensuing days, reaching. the threshold of 30,000 dollars.
However, after a significant rise, allowing BTC to break the $ 31,000 threshold two days ago, it failed to go higher, so it fell again, this time below the $ 30,000 mark.
Currently, BTC is priced at $ 29.250 so it has failed to break above this symbolic threshold of 30,000.
ETH struggles in some way
On the Ethereum side, the story is quite similar. After seeing the recent drop in price, losing over $ 1000 in one week, Ethereum is currently stabilized around $ 2,000, but he seems to be struggling to stay there.
Yesterday, the price of ETH rose slightly, trying to move towards $ 2,100, to no avail. This rejection also put Ethereum back below the $ 2,000 mark, since its price is currently at $ 1,945. So it might make sense to invest. If you want buy cryptocurrency, we recommend the Capital.com platform. It is a secure and modern platform accessible from France.
Altcoins Track BTC Performance
With dominance over altcoins still stable at around 44%, Bitcoin remains the major cryptocurrency, and continues to dictate the speed. This could be seen in its sharp declines over the past few days, as most BTC altcoins continued to fall.
So, whether it’s BNB, Solana, Cardano or even Avalanche, there’s a huge drop in recent weeks. Of course, not all of the same decline occurred, and not all of them responded in the same way afterwards.
While some seem to be stabilizing, others continue to experiencing more or less significant reductions. This is especially true for Polkadot, which has seen the biggest drop among big cap altcoins in the last 24 hours, with -6.5%.
On the contrary, some altcoins, such as Litecoin or TRON, may have seen their price rise during this same period. Finally, as for the overall capitalization of the cryptocurrency market, it is relatively stable, at approx $ 1.3 trillion.
In any case, the market as a whole now looks much smaller than it has in recent weeks.