Bitcoin Dipped Below $19K, TerraClassicUSD Spikes 13% (Market Watch)

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Bitcoin continues to trade in a tight range, as the biggest fluctuation in the past 24 hours came when the asset slipped below $19,000 briefly.

The altcoins are also untypically stable. Terra’s original cryptocurrencies are among the best performers today.

Bitcoin Dipped Beneath $19K

Last week’s ending brought a lot of fireworks for the primary cryptocurrency, which went from $19,000 to under $18,200 and back up to $20,000 in less than 24 hours after the latest US CPI numbers came out.

It failed to breach $20,000, as with previous examples and returned to $19,000. The weekend was quite calm, with little-to-no movements in either direction. So was Monday.

The landscape started to change on Tuesday when the asset initiated a leg-up that resulted in nearing $20,000 once again. However, the scenario repeated, and BTC was stopped in its tracks.

After getting back down to a familiar sight of $19,000, bitcoin calmed, except for one brief dip below that level. Nevertheless, it managed to recover the minor losses and now stands inches above $19,000 once again.

This comes amid reports claiming that retail investors’ BTC holdings have tapped a new all-time high, while whales’ have declined to a 3-year low.

BTCUSD. Source: TradingView

USTC on the Rise

The alternative coins have been mimicking BTC’s performance to a large extent for the past several days, meaning that most are untypically stagnant on a daily scale now.

Ethereum had risen to $1,350 earlier this week, but failed there, returned to $1,300 yesterday, and now sits under that level.

Cardano, Solana, MATIC, Shiba Inu, Tron, and Uniswap are also with minor daily declines. In contrast, Binance Coin, Ripple, Dogecoin, and Polkadot are slightly in the green.

XCN and USTC have added the most value in the day – up to 13-15%. As a result, the former sits at $0.0715, while the latter is close to $0.04.

But with most crypto assets trading without any major moves, the overall market cap has remained still as well at $925 billion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.



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