Low trading volumes over the weekend caused bitcoin to stall in performance, with the asset sitting quietly at around $28,000.
Most altcoins are slightly in the red today, while two of the biggest ETH liquid staking tokens – LDO and FXS – fell sharply.
Boring BTC at $28,000
The work week brought a lot of volatility, especially its start when BTC fell by about a big following the fake news surrounding Binance and its CEO. As it turned out that Interpol hadn’t actually issued a red notice on CZ, BTC recouped all the losses and even went on the offensive towards $29,000.
However, the asset failed to challenge this level and was stopped at $200 of it. The subsequent rejection pushed it further south and BTC fell below $28,000 a few days later.
Since then, it has been unable to rebound substantially and is trading in a narrow range between $27,800 and $28,200. The past 24 hours have been no different and BTC is currently sitting just below $28,000.
Its market capitalization has fallen below the $540 billion mark, while its dominance in alts has regained ground and sits at just over 46%.
LDO, FXS Hard Dump
Ethereum was among the best performers of the week, which peaked above $1,950 for the first time in nearly eight months. However, ETH failed to sustain this run and has fallen over $100 since then, currently trading below $1,850.
Two of the most popular ETH liquid staking tokens – LDO and FXS – saw even bigger losses today. Both assets are down around 8% at $2.32 and under $9, respectively.
Most larger-cap alts are also in the red, albeit in less painful ways. This includes BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC, SHIB and AVAX – all of which fell by up to 3% in one day.
The total crypto market cap lost around $15 billion in one day and fell to $1.170 trillion.
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