Bitcoin Price Constant Around $20K With Low Volume and Volatility (Market Watch)
After bitcoin lost the needed $20,000 mark over the weekend, the asset is stuck under it, while trading volume is missing.
Also, most cryptocurrencies are somewhat stagnant on a daily scale. Chainlink is among the few outstanding artists, with a 5% increase.
Bitcoin Kiosks Under $20K
Bitcoin attempted to regain some of its gains on August 26 when it jumped to $22,000 – a multi-day high at the time. However, the bears were quick to intercept the movement and pushed the assets south.
Within hours, BTC lost nearly $2,000 and was dangerously close to breaking below $20,000. Although she managed to defend this level at first, it almost felt inevitable that she would drop below it, which happened soon after.
As such, Bitcoin found itself trading below $20,000 for the first time in over a month and charted a 7-week low of $19,500 on August 29.
As the month drew to a close and at the beginning of September, BTC attempted to bounce back but was stopped at $20,000 again. The asset has spent the last few days around this level amidst the lack of any significant trading volume and volatility.
Its market capitalization is still less than $380 billion, and its dominance in altcoins is less than 39%.
LINK performs better
Altcoins, similar to bitcoin, have also lost significant portions of value in the past several days but have remained fairly quiet on the 24-hour scale.
Ethereum fell below $1,500 recently but bounced back fairly quickly. After a slight daily increase, the second largest cryptocurrency now stands at around $1,550.
Solana, Polkadot, Shiba Inu, and Tron are also slightly green now, while Binance Coin, Cardano, Ripple and Dogecoin have seen slight declines.
Chainlink is the best performer of the cap alternatives, with an increase of around 5%. As a result, LINK is trading above $7.
However, the cumulative market capitalization is still struggling below the $1 trillion mark.
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Cryptocurrency charts by TradingView.