The weekend comes with little-to-no substantial movements from the crypto market, with bitcoin sitting once again below $23,000. Most altcoins are also calm, with ADA being among the few exceptions following a 5% daily increase.
The past seven days went quite well for the primary cryptocurrency. The asset had recovered from the previous week’s drop below $19,000 and entered Monday at around $22,000.
The bulls kept control over the market and pushed BTC even further north. This culminated in a price surge to just over $24,000 on Wednesday. That became bitcoin’s highest price tag in over a month.
However, the landscape changed once it became known that Tesla had sold the majority of its BTC holdings in Q2 due to the COVID-19 lockdowns in China. Bitcoin reacted quickly and dipped by over $2,000 in hours.
Nevertheless, it bounced off and neared $23,000, where it spent most of yesterday’s trading day and sits there now as well. As such, its market cap is still way below $450 billion, and its dominance over the alts is at 41.6%.
Unlike the previous weekend, which saw impressive price performances from most altcoins, this time, the situation looks quite different, with most sitting quietly.
Ethereum continues with its recent gains following a minor daily increase. As such, the second-largest digital asset has reclaimed $1,600.
Ripple, Dogecoin, and MATIC are also slightly in the green. Cardano is the most notable gainer from the larger-cap alts with a 5% daily increase. As a result, ADA trades just over $0.5.
In contrast, BNB, Solana, Dogecoin, Shiba Inu, and Avalanche are in the red.
Most of the lower- and mid-caps are also quite stagnant on a daily scale. As such, it’s no wonder that the cumulative market cap of all crypto assets has remained calm at around $1.050 trillion.
