Yesterday, Bitcoin tried to break above $27,500 but was rejected once again and pushed back down.

The majority of the altcoins are in the red today, as ETH slipped below $1,900. On the other hand, XRP is up by just over 2% in a day.
BTC had a positive start last week, which saw the price of BTC rally to a three-week high at $28,500, but despite that, the seven-day period failed to end as well as it started. It dumped on Friday to a weekly low of $26,500 (on Bistamp) but still managed to recover some of the losses over the weekend.

As has been the case for some time now, the weekend was quite calm, as BTC spent most of it trading at around $27,000. It started a mini-rally that saw it drive the price to a multi-day high of just under $27,500, but the move was intercepted by the bears and didn’t allow any further increases.

Oppositely, bitcoin began to dump and headed straight south, driving the price to its lowest position since Friday, below $27,000. Consequently, the market capitalization of BTC declined by over $5 billion in a day as it dropped to $520 billion. BTC’s dominance over the alts also took another slight hit and is now down to 45.8%.

Image Source: TradingView

Most altcoins have gone south, following in the direction of BTC. A prime example of this is Ethereum, as it has slipped below $1,900 aftermath of a minor daily decline. Binance Coin is also close to breaking below the $300 price mark as it dropped by 2%.

Polygon, Cardano, Polkadot, Dogecoin, and Shiba Inu have all experienced similar percentage declines. Litecoin suffered an even worse loss of almost 3% a day.

Solana, Tron, Ripple, and Avalanche, on the other hand, had no notable gains. The Sandbox is the only significant gainer in the past 24 hours. SAND is trading at $0.6 as it rallied by over 5%.

The total market capitalization has lost over $15 billion since yesterday’s peak and is down to $1.135 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto

Image Source: Quantify Crypto

Featured Image Source: Blockchair

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