In this weekend watch, Bitcoin (BTC) experiences another dip, losing $26K once again. However, Stellar (XLM) defies the market sentiment, showcasing resilience in the face of market fluctuations. Stay updated on the latest cryptocurrency news and trends. Read more to find out!
Bitcoin’s Price Dips Below $26,000 as Altcoins Slide
Bitcoin experienced a brief spike above $26,400 before quickly retreating back below $26,000. Altcoins such as BNB, ADA, and SOL also saw a slight decline of over 1%.
BTC Fails to Maintain $26K
Over the past 10 days, Bitcoin’s price performance has been lackluster. After a $2,000 increase followed by a nearly $3,000 drop, fueled by Grayscale’s victory over the SEC, BTC hit an 11-week low at $25,350. However, the bulls managed to regain some ground, stabilizing the price just under $26,000 by the weekend.
Throughout the business week, BTC remained stagnant without any significant movement. This changed when the coin surged to a multi-day high above $26,400. Unfortunately, this breakout was short-lived, as Bitcoin lost all its gained momentum and dropped back below $26,000. Its market cap remains slightly above $500 billion, with dominance over altcoins shrinking to 48.3%.
XLM Bucks the Trend
Most alternative coins mirrored Bitcoin’s performance, experiencing minor gains one day and retracements the next. Ethereum, Ripple, Dogecoin, Tron, Polkadot, Polygon, and Shiba Inu all declined by up to 1%. Larger-cap alts such as Binance Coin, Cardano, Litecoin, and Solana also experienced losses, with SOL dropping by approximately 2%.
However, Stellar’s native token, XLM, stands as an exception. It saw a price surge of over 4% in a day and currently trades above $0.13.
Total Market Cap Takes a Hit
With yesterday’s gains wiped out, the total market cap has fallen back to $1.040 trillion according to CoinMarketCap. It appears that the cryptocurrency market is experiencing a period of uncertainty and consolidation after recent volatile swings.
SEO Title 1: Bitcoin’s Price Dips Below $26,000 as Altcoins Slide
SEO Title 2: Stellar’s XLM Bucks the Trend, Surges Over 4% in a Day
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