Wednesday , February 21 2024
Home / Altcoins / BNB Leads Recovery Efforts While Bitcoin Struggles Below $17K (Weekend Watch)

BNB Leads Recovery Efforts While Bitcoin Struggles Below $17K (Weekend Watch)

Summary:
Over the past day, the total cryptocurrency market capitalization managed to recover a few billion, but the overall market saw no considerable volatility, and volume is drying up. Some altcoins managed to pull ahead, but the broader sentiment remains fearful. Bitcoin Struggles Below K Bitcoin’s price was unable to hold above the K level yesterday and dropped to a low of ,527 on Binance. The cryptocurrency has failed to recover and is currently trading at around ,670. Source: Binance via TradingViewBTC’s price is down about 2.4% on the week and is only up 0.2% in the past 24 hours, unable to stage a clear recovery. Bitcoin’s dominance – used to primarily gauge its share relative to that of the rest of the market – sits still at 38.2% (according to CoinGecko).

Topics:
George Georgiev considers the following as important: , , , , , , , , , ,

This could be interesting, too:

Mandy Williams writes Bitcoin ETFs Show Steady Demand as BTC Hits New YTD High: Bitfinex

Mercy Tukiya Mutanya writes BlackRock’s Latest Investor-Friendly Spot BTC ETF Ad Presents Bitcoin as ‘Progress’

staff writer writes Unprecedented Weekly Inflow of .5 Billion for Bitcoin ETFs

CryptoVizArt writes Can BTC Bulls Continue the Rally Above K or is a Correction Imminent? (Bitcoin Price Analysis)

Over the past day, the total cryptocurrency market capitalization managed to recover a few billion, but the overall market saw no considerable volatility, and volume is drying up.

Some altcoins managed to pull ahead, but the broader sentiment remains fearful.

Bitcoin Struggles Below $17K

Bitcoin’s price was unable to hold above the $17K level yesterday and dropped to a low of $16,527 on Binance. The cryptocurrency has failed to recover and is currently trading at around $16,670.

btc_price_chart_181201
Source: Binance via TradingView

BTC’s price is down about 2.4% on the week and is only up 0.2% in the past 24 hours, unable to stage a clear recovery.

Bitcoin’s dominance – used to primarily gauge its share relative to that of the rest of the market – sits still at 38.2% (according to CoinGecko).

Altcoins Calm, BNB Pulls Ahead

For the most part, altcoins have also been standing still over he past day, unable to produce any meaningful increases, with certain exceptions.

The best performer from the top 10 coins by means of total market capitalization is Binance Coin. BNB is up 4%, trading at slightly below $250 at the time of this writing.

cryptocurrency_heatmap_181201
Source: Quantify Crypto

Overall, for the second day in a row, Toncoin (TON) remains the best performer from the top 100, up 6.2%. The cryptocurrency is now up a whopping 40% in the past week.

It seems Tezos (XTZ) lost the most during this period (-3%), which is more or less the same as WhiteBIT’s WBT token and Mina Protocol’s MINA.

Leave a Reply

Your email address will not be published. Required fields are marked *