The cryptocurrency market is going through a period of relative stability without any serious movements over the past 24 hours.
Bitcoin is up 1.3% on the day and is pushing for $27K, but it remains to be seen if the bulls will manage to overcome this significant area.
The past 24 hours saw Bitcoin’s price attempt to break the significant psychological and technical area of $27,000.
The bulls were initially able to take the price above the level, but they failed to sustain the buying momentum, and BTC dropped below it, as seen in the chart below.
Bitcoin’s dominance – the metric which tracks its share relative to that of the rest of the market – is up by 0.3% in the past day alone. Albeit a small difference, it’s considerable, and it shows that the primary cryptocurrency has outperformed the altcoin market over the given period.
Most of the altcoins are trading flat without any major increases (or decreases) in price. From the large-cap cryptocurrencies, Ripple’s XRP is down 1.2%, while Solana (SOL) is up 2.9%. Beyond that, most of the others are trading more or less where they were yesterday at this time.
Stacks (STX) is leading the altcoin recovery march across the smaller-cap cryptocurrencies, and it is up around 7.3% in the past 24 hours. The next in line is Optimism’s OP token, which is up 6%.
On the other hand, KuCoin Shares (KCS) and Flow (FLOW) are the two worst performers for the day, both down around 3%.
