The cryptocurrency market has been battered over the past week, losing well over $100 billion in the process. This follows sizable losses across the board, with BTC price still unable to recover the $28,000 level.
Bitcoin price below $28,000
Bitcoin managed to recover a slight 1% in the last 24 hours, but it still fell significantly over the week.
That said, the cryptocurrency is unable to recover the $28,000, and it is evident that the bulls are struggling to regain control. Over the past week, it has lost around 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 against that of the rest of the market. As of this writing, it stands at 44%, up 4% in the past seven days. This suggests that BTC has managed to do much better than altcoins.
Radix stands out, gains 13%
Radix (XRD) is up 30.9% in the last seven days, gaining around 13% in the last day alone. The cryptocurrency lost a lot of value again during this period, but remains the absolute best performer in both periods.
WOO Network (WOO) is also up around 11.5%, followed by BitTorrent (BTT), which is up 6%. At the other end of the spectrum is Arbitrum’s ARB, which lost around 2.3%. In general, the market has remained relatively stable over the past 24 hours.
Ethereum continues to trade below $1,900, while XRP lost the $0.5 pivot level. It is interesting to see whether or not the sentiment will change or if there is more pressure to come.
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Cryptocurrency charts by TradingView.