Bitcoin tried its hand at overcoming $30,000 once more in the past 24 hours but was stopped in its tracks and remains below that line now.
The altcoins are also slightly in the red once more, with TRX and LINK dropping by around 3% daily.
BTC Can’t Overcome $30K
Ever since BTC lost all of its momentum gained from the Ripple partial court victory and dumped back down to $30,000, the asset has been struggling to remain above that level. It charted a weekly high on Thursday at $30,400 but quickly started losing value and slipped below the round-numbered line.
The following few days were rather calm, with BTC standing in a tight range at just under $30,000. The bulls initiated a leg up in the past 24 hours that saw the cryptocurrency spiking to $30,350 (on Bitstamp).
However, that was short-lived, and the asset fell back down by over $500. As of now, bitcoin remains stuck below $30,000, and its market capitalization has declined to below $580 billion.
Its dominance over the altcoins has increased slightly in the past few days to 48.6% on CMC.
DOGE Up 6.5%
Most altcoins also lost some ground in the past few days, and the landscape today is not all that better. Ethereum still stands below $1,900 despite a minor recovery attempt. XRP is down by over 2% and is close to breaking below $0.7. Recall that Ripple’s token exploded by almost 100% after the company’s court victory against the SEC.
Most other larger-cap alts are also in the red now, with TRX and LINK losing the most value – up to 3%.
In contrast, Dogecoin stands tall with a 6.5% daily increase. This comes amid the recent developments and rebranding on Twitter and DOGE’s connection with the social media platform’s owner.
Overall, though, the total crypto market cap has lost more than $20 billion since yesterday’s peak and stands way below $1.2 trillion.
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Cryptocurrency charts by TradingView.
