Bitcoin experienced another dip below the $26,000 mark in the past 24 hours, disappointing the bullish sentiment in the market. However, while BTC struggled, several altcoins managed to perform well, with Binance Coin (BNB), Shiba Inu (SHIB), and TONCOIN (TON) leading the pack.
BTC’s recent drop took place less than a week after it hit a two-month low of $25,300, following speculations that SpaceX had sold off its remaining BTC holdings. Although Bitcoin initially recovered, surpassing $26,000, it couldn’t sustain its momentum and slipped back down to that level over the weekend.
The following days were uneventful as BTC remained stuck at the $26,000 mark. However, in the past 24 hours, Bitcoin experienced another drop of over $500, bringing it close to $25,000. Fortunately, it bounced back and is currently trading at $26,000. Despite the volatility, BTC’s market capitalization remains above $505 billion, with a dominance over altcoins at 48.3%.
While most altcoins mirrored Bitcoin’s performance, a few stood out with impressive gains. BNB, SHIB, and TONCOIN saw jumps of around 3% daily. BNB is now above $215, SHIB is at $0.00000826, and TON is close to $1.4. On the other hand, ETH, SOL, and LTC retraced by about 2%, while HBAR and MKR experienced larger declines, with MKR dropping by more than 7%.
In terms of daily gains, Astar’s ASTR and SUI took the spotlight. ASTR saw a 10% increase in value and secured a place among the top 100 altcoins by market cap. SUI, on the other hand, soared by 8%. Despite these individual performances, the total market cap remains stagnant at $1.050 trillion.
Overall, while Bitcoin faced another dip below $26,000, some altcoins managed to shine with impressive gains. The cryptocurrency market continues to exhibit volatility, with investors closely monitoring the movements in the coming days.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice.