Bitcoin tried its hand at taking down $26,000 hours ago but was stopped in its tracks, as with a few previous attempts.
The altcoins are once again in the red, with XRP, SOL, and TONCOIN dumping the most from the larger-cap ones.
XRP, SOL Nosedive
The alternative coins have seen better days, and the past 24 hours have also worsened their state. Ethereum and Binance Coin lead with another 1% down for both. As a result, ETH is close to breaking below $1,600, and BNB remains just inches above $210.
Ripple and TONCOIN have declined the most on a daily scale, with losses exceeding 3%. Consequently, XRP has further dropped below $0.5, while TON is down to $1.7.
Solana is among the poorest performers on a weekly scale, having lost nearly 10% of value. This comes amid speculations that FTX will start disposing of its SOL tokens soon.
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Dogecoin, Cardano, Tron, Polkadot, Polygon, Litecoin, and Shiba Inu are also in the red from the larger-cap alts, albeit in a more modest fashion for some.
Arbitrum’s native token has plummeted by 6% and is down to $0.8.
The total crypto market cap has seen another $10 billion gone in a day and is down to $1.030 trillion on CMC.
BTC Fails at $26K
Bitcoin has also been quite uneventful in terms of price actions lately. This came after last week’s $3,000 dump that brought it down to an 11-week low at $25,350. The following days were quite sluggish, with BTC standing below $26,000.
The only notable price surge came on Friday morning when the asset pumped above that resistance and went all the way north to $26,400. However, it lost all momentum almost immediately and dropped back down to $25,800.
The weekend was boring, with little to no movements amid low trading volumes. The past 24 hours saw a minor increase toward $26,000 but to no avail.
As such, bitcoin stands below that level once again, with its market cap just inches above $500 billion. Its dominance over the alts has expanded to 48.7% amid the declining alternative coins.
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