Bitcoin’s price seems to have stayed at $19,000 for the last few days. It is also where it is now.
Altcoins tend to be calmer on Sundays, with Chainlink emerging today as the top performer.
Bitcoin Quiet at $19K
While bitcoin seems to be quite stable right now, it was not the case earlier in the week. Bitcoin had surged from $18,300 up to $20,000 just one day before the US Federal Reserve’s latest interest-rate hike. But, once the official increase of 75 basis points was made, the asset dropped by nearly $2,000 more.
The result was a $18,100 drop, a new three month low for BTC. Fear was back in the markets and the bitcoin bulls rose to the occasion, pushing the asset up to $19,000
There was minor volatility over the next few days, with the cryptocurrency’s most notable rise reaching just above $19,500. But that was temporary and BTC returned back to $19,000 where it is currently stuck.
Its market capitalization remains at around $365 billion. However, its dominance over alternative coins is back at 39%.
BTCUSD. Source: TradingView
LINK Pops Out
Alternative coins experienced volatility during their week, but they are much more stable now.
Ethereum dropped by more than 20% following the Merge’s implementation. It is now slightly in green and stands at $1,300.
Cardano remains very stagnant, even though Vasil upgraded went live a few days back. Solana, Shiba Inu and other areas are also experiencing minor increases.
However, Tron, Binance Coin and Ripple, Dogecoins, Polkadots, Polkadots, MATIC, Avalanche and Ripple are showing slight declines.
Chainlink is the best performing altcoin today, out of all the larger and middle-cap ones. LINK trades at nearly $8 today, up 5% from yesterday.
The total cumulative market capitalization for all crypto assets remains quiet at just below $950 billion.
Cryptocurrency Market Overview. Source: Quantify Crypto
CryptoPotato’s first post, LINK Jumps 5%: BTC Waits for its Next Move at $19K was published on CryptoPotato.
Marla Brooks – Financial Analysis
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