Bitcoin Stabilizes Above $70k as Altcoins Experienced Mixed Performances

Twitter icon  •  Published 1 month ago  •  Hassan Maishera

Bitcoin stabilized above the $70k region as the major altcoins experienced mixed performances over the last 24 hours.

TL;DR

  • BTC continues to trade above the $70k mark as its price stabilizes in the last 24 hours.

  • Altcoins are experiencing mixed performances, with some underperforming while others are rallying higher.

BTC Stabilizes Around $71k

The cryptocurrency market has been stable over the last 24 hours. BTC, the world’s leading crypto by market cap, is down by less than 1% during that period and is currently trading at $70,671 per coin.

There is no catalyst behind the current market reaction as the ecosystem eagerly awaits the Bitcoin halving event in a few days. The Bitcoin halving will decrease the mining reward for Bitcoin, thereby continuing the cryptocurrency’s deflationary measures.

While Bitcoin stabilizes, altcoins are experiencing a mixed performance in the market. Ether, Solana, XRP, Dogecoin, Toncoin, and Cardano are all trading in the red zone, after losing more than 1% of their values in the last 24 hours.

Meanwhile, BNB is the only coin amongst the top 10 by market cap to be in the green. BNB is up by more than 2% in the last 24 hours and is currently trading at $619. Binance’s native coin is up by 7% so far this week, outperforming other major cryptocurrencies except for Toncoin and Dogecoin.

The total cryptocurrency market cap has declined by 0.57% and currently stands at $2.63 trillion.

 

Next article Dabba Rolls Out 10,000 Hotspots for its DePIN Users

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.