Bitcoin Fails to Break $28K Again, Maintains $27K Range
Bitcoin surged above $27,500 recently but failed to break the $28,000 barrier yet again. LDO, LTC, and TRX performed well among altcoins.
BTC Maintains $27K Range After Volatility
Due to the recent announcement of the US CPI, Bitcoin’s price saw increased volatility and a significant drop. This culminated in bitcoin plunging to $25,800, which marked a two-month low. BTC lost more than $2,000 in just two days.
However, bulls prevented further declines and pushed BTC’s price up, allowing it to quickly reclaim $27,000 by Monday. Following another leg-up, bitcoin reached a high of over $27,600 before falling back to just over $27,000, where it remains now. BTC’s market capitalization has slipped below $530 billion, while its dominance over altcoins remains at 46.6%.
LDO Continues to Perform Well
Lido DAO’s native token LDO surged beyond $2 with an 8% increase and continued to perform well with another 4% jump in the past 24 hours. The project announced the launch of its V2, which can be found here.
Minor Daily Gains for Some, Declines for Others
Litecoin, Tron, Chainlink, VET, APE, and Algo are among the top larger- and mid-cap alts with minor daily gains. However, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, DOT, SHIB, and AVAX have all declined daily by up to 2%. The total crypto market cap has lost approximately $10 billion daily, declining to $1.130 trillion.
In Conclusion
Crypto markets continue to be volatile, with Bitcoin struggling to break through $28,000. While some altcoins such as LDO, LTC, and TRX have performed well recently, others have seen daily declines. As always, investors are urged to conduct their own research before making investment decisions.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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