Bitcoin has stabilized after the volatility spike at the end the work week and is now at $19,000
Many altcoins are also very stagnant right now. There are some obvious winners like Huobi Token and others, like Cardano, on a weekly basis.
Bitcoin Calms at $19K
The most recent US inflation numbers, 8.2%, were announced Thursday. This reintroduced some of the volatility that was lost in crypto markets. Bitcoin dropped from $19,000 to a multi-week low at $18,200.
This was only the beginning. The asset rebounded and rocketed by nearly $2,000 in just hours. The price of the asset jumped to $20,000 for its first time in more than a week.
The bears, however, reminded of their presence at that point and drove BTC further south. Along with the huge losses on Wall Street Friday, bitcoin fell to $19,000. The cryptocurrency has remained stable since then and is just north of this line.
Its market capitalization is now below $370 billion and its dominance over other coins is at 40%, just like yesterday.
BTCUSD. Source: TradingView
Weekly Losses for DA
Altcoins experienced similar rollercoasters at work, but minor price movements have occurred since the weekend.
Ethereum has fallen less than 1% but is still below $1,300. Binance Coin and Ripple have seen similar daily retracements.
ADA has fallen by more than 13% in the past week, even though Cardano is still slightly in the green on a 24-hour basis. It is currently at $0.4
Dogecoins, Polkadot and Shiba Inu are all up by as much as 1% per day, while Tron, yesterday’s top performer, has retraced by 33%.
The total market cap for all crypto assets has remained the same at just over $920 billion according to CoinMarketCap.
Cryptocurrency Market Overview. Source: Quantify Crypto
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