Bitcoin (BTC) made attempts to reclaim the $27,000 level but has stalled around $26,500 at present. Last week saw relatively lower volatility, with a brief spike on Saturday propelling Bitcoin to a multi-day peak of $26,400. However, it retraced to $26,000 and remained in that range over the weekend.
The start of the week wasn’t particularly positive for Bitcoin, but it eventually turned things around. It briefly surged above $27,000 for the first time in weeks, only to experience a subsequent dip. Despite this, bullish pressure pushed the cryptocurrency to a new 20-day peak at $27,500 on Tuesday.
The following days were relatively calm, with Bitcoin maintaining the $27,000 level even after the US Federal Reserve’s decision to halt interest rate hikes. However, Bitcoin’s momentum waned by Friday, leading to a drop to $26,400.
While it attempted a rebound by day’s end, it currently stands at $26,500. Bitcoin’s market capitalization is now below $520 billion, with its dominance over altcoins hovering just above 49%.
Chainlink Shows Strength
Most altcoins have displayed limited daily losses. Major cryptocurrencies such as Ethereum (ETH), Binance Coin (BNB), Dogecoin (DOGE), Cardano (ADA), Polkadot (DOT), Polygon (MATIC), and Litecoin (LTC) recorded minor declines. In contrast, XRP, TRON (TRX), TON, and Shiba Inu (SHIB) are showing slight gains.
Solana (SOL) experienced the most significant retracement among larger-cap altcoins, with a loss of over 1%, leaving SOL struggling just below $20.
However, Chainlink’s native token, LINK, has surged by approximately 5%. Additionally, Chainlink is trading above $7. Another notable gainer among the top 100 altcoins is THETA, which has seen an 8% increase.
Despite these fluctuations in individual altcoins, the total crypto market capitalization has remained relatively stable, standing just above $1.060 trillion on CoinMarketCap.