Cryptocurrency: Bitcoin (BTC) is struggling for Dolar 38,000

Bitcoin (BTC) has yet to reclaim $40,000 and is struggling at around $38,000. Most altcoins are unusually quiet today.

According to the CryptoPotato article, BTC made another unsuccessful attempt to break above $40,000 after falling by $6,000 on the day. With the exception of Monero, which has skyrocketed in price, most altcoins have remained quiet or slightly lower since yesterday.

It's fair to say that the past few days have not been smooth sailing for the leading cryptocurrency. The asset recouped all of its losses following the Russian invasion of Ukraine, even hitting a fresh monthly high. This saw $45,000 touched multiple times, but the bears surged, pushing BTC down second by second. Bitcoin gradually lost value over the following days before falling as low as $3,000 late Friday.

As a result, the cryptocurrency fell below $39,000 for the first time in five days. It initially recovered and a few hours later it approached the $40,000 mark but stalled there. BTC is struggling at around $38,000 and its market cap is well under $750 billion. At the time of writing, the leading cryptocurrency is trading at $38,400.

So what about altcoins?

After the last roller coaster ride, most cryptocurrencies are now calming down. Ethereum fell as low as $2,200 at times and is now back up to $2,600.

Binance Coin, Ripple, Polkadot, Solana, Cardano, Polygon, Dogecoin, and Shiba Inu lost some traction as of yesterday. Terra, Avalanche and Cosmos are also down. Among the top 100 cryptocurrencies, the following have lost the most in the last 24 hours:

Anchor Log (ANC): 10%
Phantom (FTM): 6%
Cosmos (ATOM): 5%
Harmony (ONE): 4.6%

Monero was one of the few assets to post impressive price gains as XMR surged 6% and broke above $160.

Mirror Protocol (MIR) is one of the most popular altcoins, up 76% in the last 24 hours.

Blog Categories

Popular Blogs