The market continues without incident, perhaps in anticipation of some important event during the week. Bitcoin price has fallen below $17,000 as total capitalization sits below $880 billion.
Bitcoin Slips Blow $17K
Bitcoin price has been unable to achieve any success above $17K as the bears stepped in and pushed it below the coveted mark yet again. However, as seen in the chart below, overall price action has been relatively quiet as volatility has currently subsided.
Source: Binance via TradingView
BTC’s dominance, which tracks its share relative to that of the entire market, has risen slightly over the past 24 hours, showing that the top cryptocurrency fared better in comparison.
For the second day in a row, the altcoin chart declines, this time a bit more sharply compared to yesterday. The heat map below is mostly painted in red, showing the struggles of the altcoin market.
Source: quantify crypto
BNB, XRP, ADA, MATIC, DOT, and ATOM are all down 2-3%, while others like LTC, SHIB, TRX, SOL, UNI, and AVAX are down even more. Of the major altcoins, Dogecoin lost the most, trading at a decline of 8.5 for the day.
On the other hand, we have the native Telegram Open Network (TON) cryptocurrency, which is today’s best performer among the top 100. It is up 10%, which is very impressive considering the stagnation of the market. KAVA is there too, up another 10% on the day.
FLOW is the worst performer, and along with DOGE, the cryptocurrencies are down about 8.5% each. CHZ is also on that list, despite the ongoing hype surrounding the World Cup in Qatar.
Still, the market has been quiet, perhaps in anticipation of tomorrow’s release of the Consumer Price Index, along with the expected testimony from Sam Bankman-Fried in front of the US Congress.
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TradingView cryptocurrency charts.
This post Telegram’s TON soars 10%, BTC falls below $17K
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