Bitcoin finally initiated a leg up in the past 24 hours that resulted in nearing $27,000, but the asset was swiftly rejected at that point.
Several altcoins have performed better within the same timeframe, with ETH reclaiming $1.6K and TON jumping by almost 4%.
BTC Fails at $27K
It was about a week ago when the primary cryptocurrency was charting new local peaks at around $27,500. However, it failed to sustain that momentum and slipped by over a grand last Thursday following the US Federal Reserve’s latest FOMC meeting about the interest rates.
The following few days, including the weekend, were a lot less volatile, and BTC spent them at around $26,600. It dropped on Monday once again to just under $26,000 for the first time in about two weeks.
The bulls managed to intercept the move and pushed the cryptocurrency north but in a more modest fashion. Nevertheless, a more impressive price increase came yesterday evening when bitcoin pumped to $26,800 for the first time in about a week.
As the community was preparing for a charge at $27,000, the bulls came out of hiding and drove the asset south. As of now, BTC trades at close to $26,500, with its market cap standing at $515 billion, and its dominance over the alts stagnant at 48.9%.
BTCUSD. Source: TradingView## BCH, MKR, LINK on the Rise
MakerDAO’s native token has been among the best performers in the past week or so, as reported earlier, and the asset has only doubled down within the last 24 hours. MKR is up by another 7.5% and trades well above $1,500 now.
Another notable gainer lately – Chainlin (LINK – is also back on the offensive, having surged by 5.5% and trading close to $8. Bitcoin Cash, though, has soared the most daily (10%) and trades at $235.
The rest of the larger-cap alts are also in the green, albeit in a more modest fashion. ETH (1.6%) is back above $1.6K, while BNB, XRP, DOGE, ADA, DOT, and MATIC are up by less than 1%.
The total crypto market cap has added a few billion overnight and is above $1.050 trillion now.
Cryptocurrency Market Overview. Source: Quantify Crypto
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