The trading volumes have gone down during the weekend, resulting in BTC failing to produce any significant moves in either direction.
The altcoins have also stalled on a daily scale, while XRP has emerged as one of the best performers for the past seven days.
Bitcoin Boring at $27.5K
A lot happened in the cryptocurrency industry in the past few weeks, and bitcoin has somewhat expectedly taken a break now.
The asset exploded from under $20,000 to over $28,000 during the US banking crisis, which actually expanded to Europe, with UBS having to acquire Credit Suisse and Deutsche Bank’s stocks plummeting. The Fed’s latest interest rate hike on Wednesday brought more volatility to BTC, which dumped by $2,000 in hours.
However, the bulls came back to play almost immediately, and bitcoin spiked to over $29,000 briefly on Friday. After charting yet another 9-month high above that level, the cryptocurrency retraced to under $28,000, where it has remained for the past few days.
Its market capitalization has remained under $540 billion, while its dominance over the altcoins stands still at 46.2%.
XRP Up 21% Weekly
With the declining trading volumes across all charts, it’s somewhat expected that the altcoins have remained relatively stable on a daily scale. Ethereum trades close to $1,800 following a minor 1.3% increase. Similar gains are evident from Binance Coin, Dogecoin, MATIC, Solana, Litecoin, Tron, and Avalanche.
Ripple is the only top 10 altcoin with a more notable price increase. XRP is up by almost 4% in a day and more than 21% within the past week. As such, the asset stands just above $0.45.
ARB has recovered some of yesterday’s losses, having jumped by 6.5% to almost $1.3. LDO, XMR, and XLM are the other top performers from the mid-cap alts, as all are up by around 3%.
The overall crypto market cap stands at the same spot as yesterday at $1.150 trillion.
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Cryptocurrency charts by TradingView.
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