The cryptocurrency market has been slowly bleeding to death for the past 24 hours, losing some $9 billion in the process. This is due to losses from altcoins, which have posted slight declines across the board.
Meanwhile, the Bitcoin price is still stuck in the same place as yesterday.
Bitcoin fights for $30K
Bitcoin price has failed to break above the $30K level. What’s more, it looks like the bears are attempting to take control of the stock and even managed to bring the price down to $29.6K.
However, buyers stepped in and brought it back to where it is currently trading at around $29.9K.
It is interesting to note that Bitcoin dominance has increased by around 0.2% in the last 24 hours. While this may seem like a negligible 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 those with larger capitalization, are posting steady declines over the past 24 hours, as seen in the heat map below.
Source: quantify crypto
The cryptocurrency that stands out from the pack is Kaspa, which is up a hefty 14.4% in the last 24 hours, followed by XDC Network, which is also up around 9%. It is worth noting that XDC was the best performer yesterday. At the other end of the spectrum, Stellar’s XLM is the worst performer today, falling 6.5%, closely followed by XRP, which lost 4.5%.
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This post Bitcoin Struggles To $30K As Altcoins Bleed Out (Market Watch)
was published first on https://cryptopotato.com/bitcoin-fights-for-30k-while-altcoins-bleed-out-market-watch/