Bitcoin’s underwhelming price performance continues as the asset is still unable to conquer the $40,000 level decisively.
Most alternative coins are in a similar position, with little to no movements from the larger caps. ICP and LDO are among the best performers.
BTC Shaky at $40K
BTC’s price movements ever since the approval and subsequent launch of the spot ETFs in the States have been quite unfavorable. The asset plummeted two weeks ago when the products went live on US exchanges by several grand and a few more a day later.
It managed to recover some ground and remained at around $43,000 for the next week or so before another wave of price drops came at the start of the current business week, with a few consecutive declines that ultimately pushed BTC to under $39,000 for the first time in nearly two months.
It bounced off in the following days and jumped to around $40,000. It remains there now as well, with little to no movements in the past 24 hours.
Its market capitalization stands still at under $785 billion, and its dominance over the alts has not moved since yesterday, remaining at 50.4% on CMC.
BTCUSD. Source: TradingView ICP Defies Market Sentiment
Several alternative coins charted impressive gains yesterday, such as SOL and AVAX. Today, though, the market is a lot less volatile, with insignificant moves from the likes of ETH, BNB, XRP, ADA, and AVAX.
Tron is up by 3%, while DOGE and TON have declined by just over 2%. ICP has emerged as the top performer from the larger-cap alts, having surged by around 8%. As a result, the asset trades above $11. LDO follows suit with a 6.5% jump that has pushed it to $2.9.
The total crypto market cap has added about $10 billion overnight and stands above $1.560 trillion on CMC.
Cryptocurrency Market Overview. Source: Quantify Crypto
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