Bitcoin Fights For $30K While Altcoins Bleed Out (Market Watch)
Bitcoin is fighting to reclaim the $30K level while the altcoin market bleeds out.
The cryptocurrency market has been bleeding out slowly throughout the past 24 hours, losing some $9 billion in the process. This comes on the back of losses from altcoins, which have been charting slight declines across the board.
Meanwhile, Bitcoin’s price keeps stagnating at the same place it was yesterday.
Bitcoin Fights For $30K
The Bitcoin price has failed to overcome the $30K level. What is more – it appears that the bears are attempting to take control of the action and even managed to push the price down toward $29.6K.
Buyers stepped in, however, and brought it back to where it currently trades at around $29.9K.
It’s interesting to note that the Bitcoin dominance has increased by around 0.2% in the past 24 hours. While this might seem like an insignificant increase, the fact is that it shows that BTC fared better than altcoins and claimed a larger market share.
Speaking of altcoins, most of them are bleeding out.
Altcoins On the Low
Most of the altcoin market, especially across those with a higher capitalization, are posting consistent declines during the past 24 hours, as seen in the heatmap below.
The cryptocurrency that stands out from the pack is Kaspa, which is up a considerable 14.4% over the past 24 hours, followed by XDC Network, which is also up around 9%. It’s worth noting that XDC was yesterday’s best performer.On the other end of the spectrum, Stellar’s XLM is today’s worst performer, dropping by 6.5% , closely followed by XRP, which lost 4.5%.
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