Bitcoin Stagnates Below $27K: A Week of Minor Gains and Losses in the Crypto Market
Over the weekend, Bitcoin’s price performance remained lackluster, hovering below $27,000. The cryptocurrency, which had approached $28,000 the previous week, began to lose value gradually, perhaps due to global uncertainty fueled by international conflict. A subsequent drop in price pushed Bitcoin to a multi-week low of $26,500, but investors prevented further losses, and by Saturday morning the currency had regained some ground, peaking at $27,000.
However, this was only a short-term recovery, and Bitcoin has since returned to its previous level, with its market capitalization remaining at $525 billion. Despite this, Bitcoin’s dominance over altcoins has declined slightly to 49.8% on CoinMarketCap.
Meanwhile, the broader altcoin market also experienced quiet trading, with minor gains charted by DOGE and ADA, and a slight 1% drop for SOL. Loom Network (LOOM) emerged as the winner of the week, with a 38% increase in value in the past 24 hours and over 100% on a weekly scale. Other altcoins, including Mante, Avalanche, DYDX, and Conflux, saw significant losses in the past week. Overall, the total crypto market cap decreased and currently struggles at $1.050 trillion.
