BTC and Altcoin Market Snapshot

Martin Walker
Sep 24, 2023 at 12:20 pm

Historical data implies that BTC's price has shown minimal movement and lackluster performance over the weekend.

Altcoins, too, have displayed atypical stability on a daily scale, although select ones like LINK have experienced significant surges over the past week.

BTC Remains Quiet Around $26.5K

The start of the business week saw a slow beginning, as Bitcoin maintained the momentum from the previous weekend and hovered around the $26,500 mark. However, late on Monday, bullish activity propelled the cryptocurrency just beyond $27,400.

Following a brief retracement, Bitcoin once again made gains on Tuesday, reaching a 20-day high of slightly over $27,500.

Nonetheless, the asset couldn't sustain this upward trajectory and began a gradual descent in value. The descent accelerated on Thursday, with BTC dropping to a three-day low of $26,400.

Although there was a recovery in the subsequent days adding some value, the overall market remained relatively stagnant, and BTC failed to deviate from its established price range of $26,500.

Its market capitalization still stands below $520 billion, and its dominance over alternative coins is slightly higher than the previous day, at 49.2%.

BTCUSD. Source: TradingViewBTCUSD. Source: TradingView 

LINK Surges, RUNE Declines

The past 24 hours have been rather unremarkable for the alternative coins. Ethereum, Binance Coin, Ripple, Cardano, Polkadot, Polygon, and Litecoin have all seen minor losses.

Conversely, Solana, Tron, Bitcoin Cash, Dogecoin, and Shiba Inu have experienced negligible gains. Toncoin witnessed a decline of over 2% within the last day, while LINK observed a similar percentage increase.

However, Chainlink’s native token has emerged as the top performer in terms of weekly gains among the top 100 altcoins, boasting a surge of 15%. It's followed by IMX (13%), CRV (9%), and LUNC (6.5%).

On the flip side, THORChain experienced the most significant decline within the same timeframe, plummeting by 10%.

Comparing to yesterday, the total cryptocurrency market cap has seen a decrease of a few billion, resting just below $1.060 trillion.

Cryptocurrency Market Overview. Source: Quantify CryptoCryptocurrency Market Overview. Source: Quantify Crypto

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