Bitcoin Continues To Trade Below $26k As Broader Market Stagnates

TL;DR

• Bitcoin has maintained its value since the start of the week and is still trading below $26k.

• Altcoins have been experiencing mixed performances over the last 24 hours.

Bitcoin Stays Below $26k

The cryptocurrency market has underperformed since the start of the month. Bitcoin has seen its price remain stagnant since the start of the week, trading just below the $26k mark. 

The world’s leading cryptocurrency by market cap is up by less than 1% in the last 24 hours and is currently trading at $25,733 per coin. Over the last seven days, BTC has lost more than 5% of its value.

Investors are eagerly awaiting the next inflation data in the United States as that would determine how the Federal Reserve would establish its interest rates. With no major macroeconomic event at the moment, the broader market is looking bearish.

Altcoins have been experiencing mixed performance since the start of the week. TON, the native coin of the Toncoin blockchain, is the best performer amongst the top 20 cryptocurrencies by market cap, up by more than 4% in the last 24 hours. Chainlink (LINK), Uniswap (UNI), and Monero (XMR) are also trading in the green zone.

Despite the positive performance of some altcoins, the total cryptocurrency market cap remains unchanged and currently stands at $1.04 trillion.