Bitcoin Stays Above $27,500 As The Market Stabilizes

TL;DR

• Bitcoin is trading above the $27,500 mark as the broader crypto market stabilizes.

• LINK, AVAX, and XMR outperform the other major cryptocurrencies.

Bitcoin Stabilizes Above $27k

The cryptocurrency market has been stable over the past 24 hours, with most cryptocurrencies experiencing mixed performances. Bitcoin continues to be the leading cryptocurrency by market cap and is up by less than 1% in the last few hours. At press time, the price of Bitcoin stands above $27,500.

BTC has been stable over the past 24 hours as there is no major macroeconomic catalyst at the moment. The total cryptocurrency market cap has also remained at $1.08 trillion.

Despite Bitcoin stabilizing, some cryptocurrencies have performed well over the last 24 hours. AVAX, the native coin of the Avalanche blockchain, added nearly 3% to its value and is now trading above the $10 mark.

Chainlink is recovering from its recent bearish trend and is up by 1.4% in the last 24 hours. Monero (XMR), Maker (MKR) and Aave all rallied higher, with AAVE leading the way after adding more than 7% to its value.