After falling to an all-time high of around $42,000 in January 2021, bitcoin has maintained that level after a relatively stable trading day. The altcoin is still unusually calm today, with Monero being one of the few exceptions and XMR hitting a three-month high.
Bitcoin remains above $42K
It is safe to say that the primary cryptocurrency has seen better days as it attempted to jump above $47,000 earlier this week. However, this failed on both occasions when the bears returned to the scene and pushed the property south.
As reported throughout the week, BTC first dropped to $45,000 before another drop to $43,000. After rallying and adding a grand, bitcoin started falling again yesterday and fell to a 17-day low of over $42,000.
Since then, the cryptocurrency has gained some traction, reaching a close of $43,000 hours ago. It has so far failed to break that line and is now a few hundred dollars short.
Nevertheless, its market capitalization remains well above the coveted $800 billion level.
XMR moves forward
Altcoins suffered just as badly as bitcoin yesterday, but most have calmed down today with modest gains. Ethereum dropped $300 to $3,200 in a few days, but remained above that line after a slight rise.
Binance Coin, Ripple, Solana, Terra, Cardano, and Polkadot are also slightly in the green. Dogecoin and Shiba Inu – the two largest memecoins by market cap – are up more than 3% in one day to $0.15 and $0.00025, respectively.
Cardano and Near Protocol are the only two large-cap options with slight downsides.
Monero stole the show from mid-cap altcoins with a gain of 8%. As a result, XMR jumped to its highest price line since the beginning of January at $240.
The cryptocurrency market capitalization fell by $200 billion in less than a week, which is still below the $2 trillion level.
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Cryptocurrency charts by TradingView.