Bitcoin (BTC) Stalls Below $27K, XDC Network (XDC) Soars 7% Daily (Weekend Watch)
Bitcoin’s price tried to take over the $27,000 level in the past 24 hours, but the bears didn’t allow it, and the asset remains inches below that line.
Most altcoins are with minor 24-hour gains after the recent price plunges, with XDC becoming today’s top performer.
BTC Fails at Reclaiming $27K
It was less than a week ago – last Sunday – when the primary cryptocurrency was trading a lot higher and was sitting well above $28,000. However, the Israel-Hamas conflict played its part in starting a gradual decline in BTC’s price.
The asset began losing value with the start of the new business week, which culminated on Wednesday with a massive drop to $26,500. This became its lowest price point in two weeks.
Nevertheless, the BTC bulls tried to recover some ground and pushed it back up to $27,000 hours ago. However, bitcoin failed to continue upward and has retraced by a few hundred dollars since then.
Being stuck below $27,000 means that its market cap stands still at $525 billion, while its dominance over the altcoins is just inches away from 50%.
XDC Takes the Spotlight
Most altcoins fell even harder than bitcoin in the past week or so. Ethereum, for example, plummeted over $250 in days and charted a 7-month low below $1,550. The past 24 hours, though, have been somewhat more favorable.
ETH, BNB, DOGE, TON, and LTC are up by up to 1%. More gains come from the likes of XRP, MATIC, and DOT, who have jumped by 1-2%.
Solana is the top performer from the larger-cap alts, having soared by 3%. As a result, SOL remains above $20.
ICP, CRO, MKR, APT, and LDO have jumped by 3-5% in the past 24 hours. Nevertheless, XDC Network’s token has shot up the most by 7% and trades close to $0.05.
The total crypto market cap has remained relatively still at around $1.050 trillion on CMC.
Cryptocurrency Market Overview. Source: Quantify Crypto
The post Bitcoin (BTC) Stalls Below $27K, XDC Network (XDC) Soars 7% Daily (Weekend Watch) appeared first on CryptoPotato.
Filed under: Bitcoin - @ October 14, 2023 7:06 am