The cryptocurrency market took a beating throughout the past week, losing well over $100 billion in the process. This comes on the back of considerable losses across the board, with BTC’s price still unable to reclaim the $28K level.
Bitcoin Price Below $28K
Bitcoin managed to recover a slight 1% throughout the past 24 hours but is still down a lot over the week.
That said, the cryptocurrency is unable to reclaim the $28K, and it’s apparent that the bulls are struggling to regain control. Over the past week, it lost about 9% but still managed to significantly outperform the rest of the market.
This is evident in Bitcoin’s dominance – the metric used to gauge its share relative to that of the rest of the market. At the time of this writing, it stands at 44%, up 4% during the past seven days. This suggests that BTC managed to perform a lot better than altcoins.
Radix Stands Out, Gains 13%
Radix (XRD) is up 30.9% during the past seven days, gaining around 13% in the past day alone. The cryptocurrency still lost a lot of value during that period but remains the absolute best performer in both time frames.
WOO Network (WOO) is also up around 11.5%, followed by BitTorrent (BTT), which is up 6%. On the other end of the spectrum, there’s Arbitrum’s ARB, which lost around 2.3%. In general, the market was relatively flat throughout the past 24 hours.
Source: Quantify Crypto
Ethereum continues trading below $1,900, while XRP lost the pivotal $0.5 level. It’s interesting to see whether or not the sentiment will shift or if there’s more pressure ahead.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.