Bitcoin’s sluggish price performance continued in the past 24 hours, with the asset losing some ground and sitting below $26,000.
Most altcoins are also slightly in the red today. SOL, LTC, SHIB, and TON have dropped the most, with losses of up to 5%.
BTC Beneath $26K
It was precisely a week ago when the primary cryptocurrency experienced its most notable daily price surge in a while. The asset had traded sideways for weeks before the Grayscale win over the SEC in a US court propelled a massive increase that pushed BTC from $26,000 to a 15-day peak at over $28,000.
However, the hype quickly evaporated, especially after the SEC’s decision to delay making a decision on all current spot Bitcoin ETF applications. The cryptocurrency retraced by a grand on the following day before it slumped by another $1,500 24 hours later.
This resulted in a price dive to an 11-week low at $25,350 on many exchanges. BTC managed to recover some ground by the time the weekend had arrived and stood at approximately $26,000. Not a lot has happened since then, as the asset trades inches below that level now as well.
These Alts Dropped More
Most altcoins charted some minor gains yesterday, but the landscape is quite different today. Ethereum is down by 1% and has slipped to $1,620. BNB, XRP, and ADA are also in the red, albeit in a more modest fashion.
Solana, Litecoin, and Shiba Inu, on the other hand, have declined by about 2.5-3% in a day. TONCOIN, the recent high flyer, has plummeted by 5.5% in the past 24 hours and trades below $1.8.
DOGE, MATIC, and TRX are among the few alts in the green today.
Gala Games’ native token is down by 5% in a day and 17% in a week amid the ongoing issues between the project’s co-founders. GMX, ASTR, and HBAR followed suit in terms of weekly losses of up to 13%.
Read the full article here