Bitcoin’s price remains uncertain at around $26,000, despite a slight recovery from yesterday’s dip. However, there is a glimmer of hope as most altcoins have started to turn green, albeit in a modest manner. XRP, for example, has managed to maintain the $0.5 mark.
BTC experienced some volatility last week, reaching $29,700 on Monday before dipping below $29,000 by Thursday. Speculations about Elon Musk’s SpaceX selling its BTC stash worsened the situation, causing a price drop to a two-month low of $25,300. Although it quickly bounced back and briefly surged above $26,000, it slipped back below that level yesterday.
Currently, bitcoin is trading around $26,000 with a minor daily increase. Its market cap is still below $510 billion, and its dominance over altcoins remains at 48.1% on CMC.
While most alternative coins followed BTC’s downward trend, experiencing significant price drops, THORChain’s RUNE defied the odds. It has seen a remarkable 30% surge in the past week, making it the best performer among the top 100 altcoins. In the past day alone, RUNE has surged by 11% and is now valued at $1.75.
In terms of the overall market, the total crypto market cap has recovered some of its weekly losses and currently sits just above $1.050 trillion on CMC.
Despite the uncertainty surrounding bitcoin, the performance of altcoins like RUNE showcases the potential for significant gains in the crypto market. Investors will be closely watching the market for further developments and opportunities for growth.
Disclaimer: This article is not financial advice. Cryptocurrency investments are subject to market risks, and readers should do their own research before making any investment decisions.
