The cryptocurrency market remains uncharacteristically calm. Bitcoin has yet to make a decisive step while remaining above $40,000. The majority of altcoins are in the same position except Filecoin which has soared by double figures.
Bitcoin at $40K
It was only ten days since the primary cryptocurrency crashed at $47,000, and began its gradual decline. Within days, the asset dropped to $45,000 and $43,000.
BTC lost the January 2021 AATH of $42,000, which was somewhat expected. The situation got worse on April 12. Bitcoin dropped below the $40,000 mark for the first and only time in approximately a month.
It bounced back to $42,000 after this drop, but was rejected by the market. It fell to $40,000 Friday, and has maintained that level since. BTC is currently at $40,000, which means that its market capitalization remains well below $800 billion.
BTCUSD. Source: TradingView
Filecoin Wins the Show
Altcoins are known for being volatile, but they have not produced any turbulent movements over the past 24 hours.
Ethereum fell below $3,000 for the first week in weeks a few days ago, but it quickly regained that level and is now just north of it at writing these lines.
Binance Coin is now above $410, after it failed to surpass $420 just a few days ago. Daily, Ripple and Cardano, Dogecoin Shiba Inu, CRO, and Dogecoin are all slightly in the red.
However, prices have increased slightly for Polkadot, Terra, Avalanche and Terra.
Filecoin is the largest gainer, with a 11% daily rise. FIL has risen to above $21.
The total market cap is currently at just below $1.9 trillion due to the lack of significant price movements from larger-cap cryptocurrency.
Cryptocurrency Market Overview. Source: Quantify Crypto
Marla Brooks – Financial Analysis
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